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://slgomn.705-888.com
”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.
Go files housing development bill
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Trump moves to cut more foreign aid, risking shutdown
- Konektadong Pinoy Bill has lapsed into law — Palace
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- WBO champ looms as Pacquiao’s next opponent
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Angkas supports DICT's amnesty program for unregistered delivery services
- Japan accelerates missile deployment amid rising regional tensions
- Classes suspended in 10 Metro Manila cities due to rains
- Israel ups pressure on Gaza City
