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.
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.”
Go files housing development bill
”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://cu-yeip-ssd-oqjh.yamato-syokunin.com
- House resolution filed to investigate 'funders' of anomalous projects
- Israel city honors Quezon’s wartime rescue of Jews
- Trump withdraws Kamala Harris's Secret Service protection
- Epstein victims compiling list of sexual abusers
- Malabon City honors partners
- Marcos soon to create commission to probe flood control projects
- Four children killed by parents in Dominican Republic — police
- Filipino fulfills dream of performing with K-pop group before home fans
- 100K Pakistanis flee amid flood threat
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
