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.”, This news data comes from:http://mlm-wv-hlsy-jv.gyglfs.com
”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
- Marcos embarks on three-day state visit to Cambodia
- Can a giant seawall save Indonesia's disappearing coast?
- No winner in lotto draws for Aug 30
- SpaceX scrubs latest Starship launch due to bad weather
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Unnamed skeletons? US museum at center of ethical debate
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Marikina City chief of police relieved
- Comelec defers reconstitution of BARMM parliamentary districts
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
