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., This news data comes from:http://705-888.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.
Go files housing development bill
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Putin vows not to back down in Ukraine
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Chinese tourist city Sanya shuts down as typhoon intensifies
- PNP chief leads fun run
- Pope declares 'God's influencer' first millennial saint
- North Korean leader inspects new missile factory ahead of visit to China
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Trump moves to cut more foreign aid, risking shutdown
