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://tlwt-hcyj-mdf-ifuv.aichuwei.com
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.”
”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
- Argentina hunts Nazi-looted painting revealed in property ad
- Gaps in healthcare services remain - study
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Marcos names Dizon as DPWH secretary
- Bonoan freezes DPWH travel passes
- Nartatez vows fair assignments, better resource management as new PNP chief
- Thailand ruling party moves to dissolve parliament
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
