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.”
”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://ujtx.gangzhifhm.com
Go files housing development bill
- New judge to handle Dengvaxia cases named; hearing set
- House starts flood control probe
- Sen. Bong Go files bill for better health worker protection, benefits
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Comelec upholds cancelation of Duterte Youth registration
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Remulla pledges transparency and impartiality as Ombudsman
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- DILG suspends classes, gov’t work in 17 areas
