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://ptqwlu.aichuwei.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.
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Navotas inks deal for school feeding project
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Israel tells residents to leave Gaza City ahead of offensive
- Marcos opens Hyundai's shipyard in PH
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Oil firms to raise fuel prices this week
- May 12 poll results accurate, credible - OCTA Research
- Nartatez rules out 'quota' arrests
- Indonesian police officer fired over killing that sparked protests
