SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.052298.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
The accompanying explanatory statement said the measure “allows local governments to levy a half-percent socialized housing tax on urban land values, with proceeds dedicated to socialized housing and public rental projects.”
”In addition, the bill introduces securitization mechanisms to raise more housing funds through bonds and securities exempted from usual taxes and registration requirements. Private developers will also be incentivized to participate in socialized and low-cost housing projects, with such participation counted toward compliance with balanced housing laws,” it added.
Go files housing development bill
- 13 massage therapists robbed, 2 cry rape
- Manila mayor warns against mobs, orders police to maintain peace and order
- China 'unstoppable', says Xi with Kim, Putin at his side
- Comelec probes 15 contractors for illegal campaign donations
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Xi meets Modi as China and India seek to rebuild ties
- Marcos orders lifestyle checks on all government officials amid flood control probe
- House bill seeks to regulate AI use
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
