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., This news data comes from:http://redcanaco.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.
Go files housing development bill
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Nartatez vows fair assignments, better resource management as new PNP chief
- Japan pledges continued support for Philippine development projects
- ‘God’s Influencer’ to become first millennial saint
- Sara favors punishing officials, lifestyle checks
- Prince Harry to visit UK on anniversary of queen's death
- Two dead as strong earthquake jolts Afghanistan
- Gasoline, diesel prices to increase again next week
- Hontiveros pushes P15,000 salary hike for teachers
- Thai court to rule on PM's fate after Hun Sen call leak
