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.”, This news data comes from:http://qjux.ycyzqzxyh.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
- Earthquake kills 250, injures 500 in Afghanistan
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- PH has chance of getting UNSC seat - Manalo
- Pakistanis no reprieve from floods yet
- 'Large shark' kills man off Sydney beach
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Putin meets Kim, praises North Korean troops in Russia
- Hontiveros pushes P15,000 salary hike for teachers
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Plea written in blood saves Chinese woman trapped in locked room
