SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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, This news data comes from:http://xje.xs888999.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.
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- PH Construction Board asked to address 'accreditation for sale' scandal
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Lacson warns lawmakers may be complicit in ghost flood control projects
- Cebu Pacific to launch direct flights between Cebu and Palawan
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- No winner in lotto draws for Aug 30
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- 'Ondoy'-level rains swamp Quezon City
- Filipino fulfills dream of performing with K-pop group before home fans
