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, This news data comes from:http://clyw-jrpe-ljyu-bsvb.yamato-syokunin.com
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.
- DPWH told to build evacuation centers
- Transport chief pushes shame campaign vs errant motorists
- Makati earns high rating in anti-trafficking and violence assessment
- Drug war whistleblower Royina Garma returns to PH after US detention
- Comelec to resume BARMM polls ballot printing Thursday
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- 'Lannie' exits PH — Pagasa
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- One in four people lack access to safe drinking water – UN
- Pacifist Japan struggles to boost troops as China anxiety grows
