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.”, This news data comes from:http://erlvyiwan.com
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.
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Public Works chief to press criminal charges against Bulacan engineer
- Woman accused of murdering her children faces New Zealand trial
- Australia to tackle deepfake nudes, online stalking
- Gasoline, diesel prices to increase by P1 next week
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- No winner in lotto draws for Aug 30
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Japanese climber, 102, sets Mount Fuji record
- Epstein victims compiling list of sexual abusers
