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., This news data comes from:http://gmb-dao-kjxh-pf.gyglfs.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.”
”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
- Comelec defers reconstitution of BARMM parliamentary districts
- LPA affects Metro Manila, Mindanao, Visayas
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Mandela grandson says he will join Gaza aid boat
- New Zealand to allow some wealthy foreign investors onto property market
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
