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://wx.aichuwei.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.
- 'No way' US troops can invade Venezuela, says Maduro
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Oil firms to hike pump prices Tuesday
- President Marcos to attend 80th UN General Assembly in New York
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- SEARCH WARRANT
- New DPWH chief Dizon: "A department can't investigate itself"
- NHA gives cash aid to families affected by calamity in Manila
- DICT grants amnesty to unregistered delivery firms
