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
”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., This news data comes from:http://kpwqkfd.gangzhifhm.com
- Argentine police recover Nazi-looted painting spotted in property ad
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Former PNP chief Torre III offered new government post
- Navotas inks deal for school feeding project
- Workers urge Marcos to stop corruption by banning political dynasties
- Ballots for oct 13 BARMM polls completed – Comelec
- No winner in lotto draws for Aug 30
- Comelec defers reconstitution of BARMM parliamentary districts
- International media protest over journalist deaths in Gaza
