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.
Go files housing development bill
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://ycyzqzxyh.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
- Protesters storm Discaya compound for second straight day
- Pagasa sees cyclone-free week across PH
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Co out of country for medical reasons
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Pagasa monitors LPA off Cavite, may still become tropical depression
