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
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://sv.aichuwei.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.
- Comelec to resume BARMM polls ballot printing Thursday
- Remulla pledges transparency and impartiality as Ombudsman
- Marcos inspects rock shed project in Benguet
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Nartatez vows to be fair in making reassignments
- India to probe giant zoo run by son of Asia's richest person
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
