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.
Go files housing development bill
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://yyk.jyxingfa.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.
- Ballots for oct 13 BARMM polls completed – Comelec
- DBP launches P50M program for education
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Marcos names Dizon as DPWH secretary
- Firefighters arrested by US immigration officials
- Magnitude 5.1 earthquake rattles Surigao del Sur
- Israel ups pressure on Gaza City
- DFA: No US extradition request for Quiboloy
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
