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, This news data comes from:http://cqn-vlr-plqx-amv.gyglfs.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.”
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.
- La Niña may return but temperatures will remain high, UN says
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Thailand acting PM moves to dissolve parliament — party
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- China is showing off its weaponry in a tightly controlled military parade
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- DOH unveils 7 priority measures at House hearing
- President Marcos to attend 80th UN General Assembly in New York
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
