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., This news data comes from:http://tx.gangzhifhm.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.”
”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
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Philippines to work more closely with US amid regional challenges
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Lookout bulletins out vs Atong Ang, Barretto
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- PNP chief Torre relieved from post — Palace
- Cusi charged over Malampaya deal
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Roxas matriarch Judy Araneta-Roxas, 91
