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://ulalut.705-888.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.
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Private groups back DHSUD chief's anti-corruption policy
- NHA gives cash aid to families affected by calamity in Manila
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Kris Aquino is alive, says friend amid reports of death
- MMDA prepares for PH hosting of FIVB
- No peace without end to hostilities –Arab bloc
- House starts flood control probe
- Marcos signs mining tax regime law
