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
”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., This news data comes from:http://rjw-qs-ghyv-tswj.771bg.com
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Protesters storm Discaya compound for second straight day
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- North Korean leader inspects new missile factory ahead of visit to China
- Rise in HFMD cases due to better reporting, not outbreak
- Indonesian police officer fired over killing that sparked protests
- Former PNP chief Torre III offered new government post
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
