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., This news data comes from:http://ajgfw.052298.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.
- Comelec defers BARMM district reconstitution
- Fire breaks out in Manila residential area
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- US Spirit Airlines files for bankruptcy again
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- P1.7-M shabu seized in Taguig buy-bust
- 500 Internal Server Error
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Appointments panel holds first session
