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.xs888999.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
- Palace to Discayas: Prove allegations
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Discayas must return money before seeking immunity – Remulla
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Co out of country for medical reasons
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- US warship heading toward Caribbean Sea
- Epstein victims compiling list of sexual abusers
