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://lxyrhtxt.ycyzqzxyh.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.
- PH Construction Board asked to address 'accreditation for sale' scandal
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Marcos names Dizon as DPWH secretary
- 15 drug war victims cleared to join Duterte's ICC case
- Marcos, first lady visit Cambodia to boost ties
- Comelec probes 15 govt contractors over 2022 election donations
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Comelec defers reconstitution of BARMM parliamentary districts
