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.
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.”, This news data comes from:http://txn.erlvyiwan.com
Go files housing development bill
”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
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Vico encourages citizens on Heroes’ Day to be brave
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- DSWD's guarantee letters now accepted in more establishments
- Argentine police recover Nazi-looted painting spotted in property ad
- ALPAS Consultancy bags five awards in Philippine Quill debut
- WorldSkills Asean Manila begins
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- PH Defense chief slammed for 'bad mouthing' China
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
