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, This news data comes from:http://uslv.gangzhifhm.com
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.
- LTO summons driver who berated MMDA enforcer
- PH eyes global partners in biggest railway project
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Marcos opens Hyundai's shipyard in PH
- 2028 polls overseas voter registration opens in Dec
- NATIONAL ARTIST'S HOMETOWN
