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.
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., This news data comes from:http://705-888.com
Go files housing development bill
- AKG chief denies using ‘kidnap’ car for personal purposes
- Isko files raps over demolition of sports complex
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Pasig City continues barangay aid for efficiency, ends patronage politics
- Indonesian police officer fired over killing that sparked protests
- Hontiveros urges probe on Chinese faking Filipino identity
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Sen. Go files bills to push health, social, and labor reforms
- Alex Eala makes history With comeback victory at US Open
