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.
Go files housing development bill, This news data comes from:http://www.xs888999.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.
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Sen. Go files bills to push health, social, and labor reforms
- Eala ousts Day, enters Guadalajara Open final
- DPWH to revisit budget, to complete revisions within 2 weeks
- Marcos confers diplomatic merit award on two ambassadors
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- 'Mockery of science': US experts blast Trump climate report
- No winner in lotto draws for Aug 30
- DSWD program reduced hunger
- Labubu fans flock to stores after launch of mini dolls
