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.
Go files housing development bill
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.”, This news data comes from:http://clle-thy-px-ovt.gyglfs.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
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Xi and Putin round on West at regional summit in China
- UK's mass facial-recognition roll-out alarms rights groups
- Comelec defers reconstitution of BARMM parliamentary districts
- House starts flood control probe
- Marcos wants subpoena power for body investigating flood projects
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
