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., This news data comes from:http://sbhc-cf-dl-komp.gangzhifhm.com
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.
- Drones take on Everest's garbage
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Follow the trucks: Why investors are looking south of Metro Manila
- Oil firms to raise pump prices Tuesday
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Thousands protest in Indonesia as military deployed in capital
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- 'Large shark' kills man off Sydney beach
- Afghan quake death toll surges to over 2,200
