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., This news data comes from:http://cvq-vxod-mm-nv.771bg.com
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.
- DPWH opens foreign-assisted projects to LGUs
- President asks governor to expose irregularities in govt projects
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- PH, Japan conduct search and rescue exercises
- Robinsons to build 9-story office building in Davao City
- NATO members to reach 2% defense spending goal this year
- PH, Australia commend ‘impressive’ joint sea drills
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
