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.
Go files housing development bill, This news data comes from:http://ek.xs888999.com
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Govt debt swells to record P17.58T
- 'Pink and green' protests call for a reset in Indonesia
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- DPWH exec asked lawmaker to make budget insertions — Lacson
- WBO champ looms as Pacquiao’s next opponent
- GoTyme gives customers 20 free InstaPay transfers per month
- Go seeks more support for Filipino athletes
