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, This news data comes from:http://qn.052298.com
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.”
”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.
- Follow the trucks: Why investors are looking south of Metro Manila
- CFO moves office from QC to Pasay
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Argentine police recover Nazi-looted painting spotted in property ad
- Indonesia leader orders investigation into driver's protest death
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- DILG denies allegations that PNP chief fired over firearms deal
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Customs preparing report on Discayas’ 28 luxury cars
