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.
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., This news data comes from:http://aichuwei.com
Go files housing development bill
- DSWD's guarantee letters now accepted in more establishments
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Marcos opens WorldSkills Asean competition
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- LPA affects Metro Manila, Mindanao, Visayas
- Discaya companies' licenses revoked for bid-rigging
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Marcos approves EO for commission to probe flood project anomalies
