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.
Go files housing development bill
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://en-pylc-ly-sppi.xs888999.com
- Comelec to resume BARMM polls ballot printing Thursday
- Japan pledges continued support for Philippine development projects
- ERC amends net-metering rules to expand renewable energy options
- Quezon City hails directive for national projects to get local permits
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Search for survivors after Afghan earthquake kills 800
- Modi, Ishiba agree to boost economic ties
- In Taiwan, competing narratives over the meaning of China's massive military show
- Philippines to work more closely with US amid regional challenges
- 13 massage therapists robbed, 2 cry rape
