SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.”, This news data comes from:http://pelowrm.erlvyiwan.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.
- Group presses DA on delayed fertilizer subsidies
- Earthquake kills 250, injures 500 in Afghanistan
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- Marcos to attend UN meet in New York in Sept- Palace
- Meeting South Korea, Trump could eye new chance with North
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Quezon City hails directive for national projects to get local permits
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Maduro calls for dialogue hours after Trump’s threat
- AboitizPower pushes growth with clean, renewable energy
