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., This news data comes from:http://www.052298.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.”
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.
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- DPWH opens foreign-assisted projects to LGUs
- Duterte defense files more motions challenging ICC prosecutor
- Sotto to Lead Senate again as majority votes to oust Escudero
- Putin lands in Tianjin for summit hosted by China
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Israel launches new spy satellite in 'message' to enemies
- ICC postpones Duterte's hearing, reviews fitness to stand trial
- Govt debt swells to record P17.58T
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
