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.
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, This news data comes from:http://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.
Go files housing development bill
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Israel flattens high-rise as it tells Gaza City residents to flee
- Nartatez vows to be fair in making reassignments
- Trump hails Department of War rebrand as 'message of victory'
- Marcos orders lifestyle checks on all government officials amid flood control probe
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Konektadong Pinoy Bill has lapsed into law — Palace
- Private groups back DHSUD chief's anti-corruption policy
- Pagasa sees cyclone-free week across PH
