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://redcanaco.com
Go files housing development bill
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
- Thousands protest in Indonesia as military deployed in capital
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- House resolution filed to investigate 'funders' of anomalous projects
- Pagasa sees cyclone-free week across PH
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- PH to see ‘blood moon’ Sept. 7-8
- Drug war victims ready to face Duterte as ICC sets hearing on crimes against humanity
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Sen. Go files bills to push health, social, and labor reforms
