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, This news data comes from:http://kewg-ca-uwar-fru.gangzhifhm.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.
- Japan govt seeks to triple spending on drones
- 15 drug war victims cleared to join Duterte's ICC case
- DPWH to revisit budget, to complete revisions within 2 weeks
- Lacson: Torre 'acted beyond his authority'
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- LTO summons driver who berated MMDA enforcer
- Villanueva: Regularize contractual govt workers
- Government work, classes on Tuesday suspended due to bad weather
- NACC renews appeal: Adopt neglected kids
