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., This news data comes from:http://www.redcanaco.com
Go files housing development bill
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.”
”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.
- Discaya companies' licenses revoked for bid-rigging
- Navotas holds anti-plastic drive
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Thai opposition holds kingmaking summit deciding new PM
- Islamic State claims deadly attack on Pakistan rally
- 40% of Filipinos are now obese, says Health expert
- Pope Leo: We must listen first before speaking
- DPWH told to build evacuation centers
- China 'unstoppable', says Xi with Kim, Putin at his side
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
