SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill, This news data comes from:http://auayyp.yamato-syokunin.com
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.
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.
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Marcos approves EO for commission to probe flood project anomalies
- DOJ indicts Abra Mining for fraudulent trading
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Lacson to govt: Protect education budget
- 102-year-old becomes oldest person to summit Mount Fuji
- Pakistanis no reprieve from floods yet
