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.
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., This news data comes from:http://aichuwei.com
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Protesters storm Discaya compound, Sotto calls for calm
- PNP chief supports lowering age of discernment
- Roxas matriarch, 91
- PH Army showcases disaster response capabilities before Thai defense officials
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Roxas matriarch Judy Araneta-Roxas, 91
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Alex Eala makes history With comeback victory at US Open
