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, This news data comes from:http://tk-pc-lq-vtdy.redcanaco.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.
- Need to pee? Japan has QR code for that
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Marcos lauds Alex Eala’s win in Guadalajara
- Navotas inks deal for school feeding project
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- Marcos confers diplomatic merit award on two ambassadors
- Court rules on subdivision open spaces, road lots
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Labubu fans flock to stores after launch of mini dolls
