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., This news data comes from:http://qjrk.erlvyiwan.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.
- Motive probed for US shooting that killed two children, injured 17
- DPWH opens foreign-assisted projects to LGUs
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- House tackles P881B public works budget amid flood control anomalies
- Giovanni Lopez pledges to continue and expand DOTr reforms
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Navotas inks deal for school feeding project
- China 'unstoppable', says Xi with Kim, Putin at his side
