SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.gyglfs.com
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.”
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.
- 100K Pakistanis flee amid flood threat
- Fire breaks out in Manila residential area
- Drug war whistleblower Royina Garma returns to PH after US detention
- 40% of Filipinos are now obese, says Health expert
- South Korean President vows support to Koreans arrested in US immigration raid
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Trump hails Department of War rebrand as 'message of victory'
- Discaya companies' licenses revoked for bid-rigging
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- No winner in Grand, Megalotto draws for Aug 27
