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
”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., This news data comes from:http://www.xs888999.com
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- DPWH exec fired, 2 others face dismissal over flood control mess
- Puno seeks probe of anomalous projects ‘funders’
- Labubu fans flock to stores after launch of mini dolls
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Head of main US health agency abruptly dismissed
- Customs preparing report on Discayas’ 28 luxury cars
- Philippines to work more closely with US amid regional challenges
- Kneecap to play Paris concert in defiance of objections
