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://huq.771bg.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.”
Go files housing development bill
”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.
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Japan PM decides to quit as opponents seek leadership election
- 500 Internal Server Error
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Gasoline, diesel prices to increase by P1 next week
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Prompt release of educational aids sought
- President pushes probe on flood control mess amid congressional inquiry
- Marcos approves EO for commission to probe flood project anomalies
