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://nse.aichuwei.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.
Go files housing development bill
- 4 policemen linked to sabungero case slapped with more administrative cases
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Lookout bulletins out vs Atong Ang, Barretto
- China to bolster non-Western alliances at summit, parade
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Palace suspends govt work, classes in several areas due to bad weather
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Indonesian finance minister's home looted as protest anger grows
- President Marcos commits to boosting PH digital infrastructure
- Pasig City continues barangay aid for efficiency, ends patronage politics
