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., This news data comes from:http://rv-vw-ktu-jmen.gangzhifhm.com
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.
Go files housing development bill
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- P1.7-M shabu seized in Taguig buy-bust
- Marcos willing to submit to a lifestyle check
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Mexican drug lord faces life in prison after pleading guilty in US court
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- 9 dead in Ecuador after bus plunges into ravine
- Comelec defers reconstitution of BARMM parliamentary districts
