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
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://dyc.gyglfs.com
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.
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- MMDA prepares for PH hosting of FIVB
- SC orders comment on petitions vs polls
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Workers urge Marcos to stop corruption by banning political dynasties
- North Korean leader inspects new missile factory ahead of visit to China
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- PH, Australia, Canada hold joint sea drills
- IBP to form good governance panel
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
