SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://www.052298.com
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.”
”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.
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Thai opposition's kingmaking summit fails to back new PM
- Marcos orders lifestyle checks on all government officials amid flood control probe
- DPWH Secretary Dizon vows to slash 'staggering' P268B flood control budget
- Rise in HFMD cases due to better reporting, not outbreak
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Sen. Go files bills to push health, social, and labor reforms
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- House resolution filed to investigate 'funders' of anomalous projects
- Immigration deports 49 South Korean fugitives
