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.
Go files housing development bill
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://yamato-syokunin.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.
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- MMDA inks deal with DBM for G-3 program
- Taiwan, China locked in historical word war
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- DPWH told to build evacuation centers
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Modi, Ishiba agree to boost economic ties
