SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://xq-aq-brby-qswl.xs888999.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.
- MMDA readies for FIVB men’s volleyball
- Estrada, Villanueva tagged in flood control mess, 'SOP was 30%'
- US and European officials meet to discuss new sanctions on Russia
- Transport chief pushes shame campaign vs errant motorists
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Indonesian police officer fired over killing that sparked protests
- 1 of 2 suspects in Pasay robbery, rape arrested
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- PH economic losses hit 100B from corruption in flood control projects
- Nartatez vows to be fair in making reassignments
