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, This news data comes from:http://www.erlvyiwan.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
- Marcos suspends importation of regular, well-milled rice for 60 days
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Tax bureau hunts down contractors over questionable flood control deals
- Pasig fire kills child, injures mother as she tries to save him
- Australia halts logging for koala haven on eastern coast
- DSWD program reduced hunger
- Konektadong Pinoy Bill has lapsed into law — Palace
- Japan pledges continued support for Philippine development projects
- Nartatez rules out 'quota' arrests
- China displays its weaponry in a tightly controlled military parade
