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://kc.705-888.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.
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Washington makes military aid overtures to Sahel juntas
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Nartatez vows fair assignments, better resource management as new PNP chief
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Harold Cabreros takes post as new OCD chief
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
