SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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., This news data comes from:http://705-888.com
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
- NATIONAL ARTIST'S HOMETOWN
- PH Construction Board asked to address 'accreditation for sale' scandal
- PH has chance of getting UNSC seat - Manalo
- 1 of 2 suspects in Pasay robbery, rape arrested
- Comelec defers reconstitution of BARMM parliamentary districts
- Marcos lauds Alex Eala’s win in Guadalajara
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Navotas holds anti-plastic drive
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Angkas supports DICT's amnesty program for unregistered delivery services
