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.
Go files housing development bill
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://eomy-qjl-xwry-gswy.jyxingfa.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.
- 9 dead in Ecuador after bus plunges into ravine
- Go seeks more support for Filipino athletes
- 'Pink and green' protests call for a reset in Indonesia
- LPA affects Metro Manila, Mindanao, Visayas
- No peace without end to hostilities –Arab bloc
- Firefighters arrested by US immigration officials
- Go Negosyo, CFO push migrant empowerment
- Australia's mushroom murderer faces victims' family in court
- Tokyo protests to Beijing over gas field in East China Sea
- Former PNP chief Torre III offered new government post
