SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.
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., This news data comes from:http://ko-lnkl-kh-kq.gyglfs.com
- One in four people lack access to safe drinking water – UN
- Gaza at 'breaking point,' says UN food agency chief after visit
- Task force cites new threats to media workers
- NATIONAL ARTIST'S HOMETOWN
- Dizon to order DPWH officials to submit courtesy resignation
- Comelec probes 15 contractors for illegal campaign donations
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Sara Discaya admits owning 28 luxury cars
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Australia's mushroom murderer faces victims' family in court
