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.”
”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., This news data comes from:http://pxjjxnvh.771bg.com
- Angkas supports DICT's amnesty program for unregistered delivery services
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Japan pledges continued support for Philippine development projects
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- 'God's Influencer' to become first millennial saint
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Former DPWH chief denies links to corruption
