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.”
Go files housing development bill
”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://mb.052298.com
- Israel flattens high-rise as it tells Gaza City residents to flee
- Makati distributes Blu Card cash aid
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Wildfires producing 'witches' brew' of air pollution – UN
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Heavy rains flood parts of Metro Manila anew
- Task force cites new threats to media workers
- Private groups back DHSUD chief's anti-corruption policy
