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.”
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., This news data comes from:http://kudbewu.052298.com
- DOJ indicts Abra Mining for fraudulent trading
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Sarah Discaya grilled by Senate over alleged DPWH links
- PNP chief supports lowering age of discernment
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- China to bolster non-Western alliances at summit, parade
- Heavy rains flood parts of Metro Manila anew
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- DMW: 19 distressed OFWs return home from Jeddah
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
