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.”, This news data comes from:http://dyx.yamato-syokunin.com
”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
- Gasoline, diesel prices to increase by P1 next week
- EU massive fine against Google draws Trump threat
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Philippines to launch shame campaign vs traffic violators
- Putin vows not to back down in Ukraine
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Suspect in 2012 killing of Dutch aid worker freed
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Mexican senators come to blows after heated debate
