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.”
”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://ws.771bg.com
- Mexican drug lord faces life in prison after pleading guilty in US court
- Putin facing mounting pressure from the West
- Marcos signs laws declaring holidays across PH
- Hontiveros pushes P15,000 salary hike for teachers
- President Marcos Jr. visits Cambodia to strengthen ties
- LTO summons driver who berated enforcer
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Prompt release of educational aids sought
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
