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, This news data comes from:http://www.yamato-syokunin.com
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.”
”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.
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- DPWH exec fired, 2 others face dismissal over flood control mess
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Court rules on subdivision open spaces, road lots
