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://www.052298.com
Go files housing development bill
”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.
- Marcos inspects rock shed project in Benguet
- MMDA prepares for PH hosting of FIVB
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Passenger with fake Overseas Employment Certificate barred from leaving
- Discaya’s construction companies competed against each other during biddings
- Duterte lawyers take aim at ICC prosecutor
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
