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.
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., This news data comes from:http://redcanaco.com
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.
- Co out of country for medical reasons
- Vico encourages citizens on Heroes’ Day to be brave
- Comelec probes 15 govt contractors over 2022 election donations
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- ‘Gomez ignorant of how media works’
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Navotas inks deal for school feeding project
- Isko files raps over demolition of sports complex
- Marcos to youth: Help in nation-building
