SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://vcov.erlvyiwan.com
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
”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.
- Drug war whistleblower Royina Garma returns to PH after US detention
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Afghan quake death toll surges to over 2,200
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- 20 people missing after deadly Indonesia protests
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
