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., This news data comes from:http://052298.com
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.
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Maduro calls for dialogue hours after Trump’s threat
- Discaya’s construction companies competed against each other during biddings
- Motive probed for US shooting that killed two children, injured 17
- Duterte defense files more motions challenging ICC prosecutor
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Thousands protest in Indonesia as military deployed in capital
- Putin facing mounting pressure from the West
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
