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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.”, This news data comes from:http://www.705-888.com
”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.
- Ballots for oct 13 BARMM polls completed – Comelec
- Protesters storm Discaya compound for second straight day
- Trump names US ambassador to India
- Iran confers with European nations on its nuclear program as sanctions deadline nears
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Pope Leo: We must listen first before speaking
- Inoue says taunts 'missed the target' ahead of world title clash
- Quezon City hails directive for national projects to get local permits
- Comelec to resume BARMM polls ballot printing Thursday
- Palace slams Discaya couple's denial in Film Heritage Building debacle
