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.”, This news data comes from:http://ajgwrqq.erlvyiwan.com
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.
Go files housing development bill
- Venezuela deploys warships, drones as US destroyers draw near
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Marcos approves EO for commission to probe flood project anomalies
- Fears of new political crisis grip France
- 'Strangest' dinosaur covered in spiked armory – scientists
- COA launches sweeping audit of flood control projects
- South Korean prosecutors indict Yoon's wife, former PM
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
