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.
Go files housing development bill
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://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
- Sen. Go files bills to push health, social, and labor reforms
- Roxas matriarch, 91
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Trump to blacklist countries for imprisoning Americans
- Lacson: Daughter of former DPWH secretary Manuel Bonoan co-owns construction firm
- Can a giant seawall save Indonesia's disappearing coast?
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Inflation up 1.5% in August
- Comelec defers BARMM district reconstitution
- Marcos suspends importation of regular, well-milled rice for 60 days
