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://rdmco.ycyzqzxyh.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.
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Marcos approves EO for commission to probe flood project anomalies
- Alex Eala makes history With comeback victory at US Open
- Hontiveros urges probe on Chinese faking Filipino identity
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Portugal mourns after Lisbon streetcar accident kills 15
