SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill, This news data comes from:http://qukhw.yamato-syokunin.com
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.
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Customs preparing report on Discayas’ 28 luxury cars
- Makati distributes Blu Card cash aid
- MMDA inks deal with DBM for G-3 program
- Leviste files charges against DPWH engineer who tried to bribe him
- Thailand acting PM moves to dissolve parliament — party
- Israel warns Hamas to surrender or face 'annihilation'
- Remulla pledges transparency and impartiality as Ombudsman
- Pagasa sees cyclone-free week across PH
