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://771bg.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
- Discaya’s construction companies competed against each other during biddings
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Workers urge Marcos to stop corruption by banning political dynasties
- Marcos opens WorldSkills Asean competition
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- South Korean President vows support to Koreans arrested in US immigration raid
- Trump wants to meet Norea Korea's Kim again
- Israel launches new spy satellite in 'message' to enemies
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
