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.
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., This news data comes from:http://www.xs888999.com
Go files housing development bill
- PH, Australia, Canada hold joint sea drills
- MMDA inks deal with DBM for G-3 program
- New mining law to balance profit, ecology
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Oil firms to raise fuel prices this week
- MMDA prepares for PH hosting of FIVB
- China races to build world’s largest solar farm
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Taylor Swift, Travis Kelce engaged
