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., This news data comes from:http://fxf-oexs-fy-bb.redcanaco.com
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.
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Makati earns high rating in anti-trafficking and violence assessment
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Made in China? The remarkable tale of Venice's iconic winged lion
- Nartatez relieves Fajardo as PNP spokesman
- WorldSkills Asean Manila begins
- PNP chief Torre relieved from post — Palace
- 'Ondoy'-level rains swamp Quezon City
