SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://erlvyiwan.com
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.
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Taiwan: China illegally deploying oil rigs in our waters
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- President Marcos launches HD Hyundai Shipyard in Subic
- Go seeks more support for Filipino athletes
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Hope dwindles for survivors days after deadly Afghan quake
