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://www.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.
Go files housing development bill
- P270M rock shed useless – Marcos
- National Guard troops begin carrying weapons in US capital
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- India to probe giant zoo run by son of Asia's richest person
- Peace efforts in limbo as Kyiv mourns 23 dead
- Marcos signs laws declaring holidays across PH
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- New DPWH chief Dizon: "A department can't investigate itself"
- Comelec to resume BARMM polls ballot printing Thursday
- 'Large shark' kills man off Sydney beach
