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, This news data comes from:http://www.gangzhifhm.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.
- Isko files raps over demolition of sports complex
- LPA may still develop into short-lived tropical cyclone
- Sara favors punishing officials, lifestyle checks
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- PNP chief supports lowering age of discernment
- Hontiveros pushes P15,000 salary hike for teachers
- Van Gogh Museum 'could close' without more help from Dutch govt
- LPA affects Metro Manila, Mindanao, Visayas
- House justice panel to probe US' extradition request for Quiboloy
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
