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://sxcpuh.771bg.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.
- DFA: No US extradition request for Quiboloy
- PH, Cambodia business execs urged to boost partnership
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Putin lands in Tianjin for summit hosted by China
- Ex-DPWH secretary's daughter linked to construction firm in flood control probe, says Lacson
- Australia government condemns anti-immigration rally in Sydney
- NBI starts own inquiry of DPWH contracts
- Sen. Go files bills to push health, social, and labor reforms
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Japan accelerates missile deployment amid rising regional tensions
