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.
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://hr-jsy-om-iutp.gangzhifhm.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.
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Prompt release of educational aids sought
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- 'Pink and green' protests call for a reset in Indonesia
- Marcos, first lady visit Cambodia to boost ties
- No winner in Grand, Megalotto draws for Aug 27
- Two foreigners face trafficking complaint in Pasay City
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Private groups back DHSUD chief's anti-corruption policy
- China 'elephant in the room' at fraught Pacific Islands summit
