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://fqb-nvik-vgx-st.gyglfs.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.”
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.
- Aggressive promos in unregulated online gambling platforms draw Filipinos — study
- Unnamed skeletons? US museum at center of ethical debate
- Afghan quake death toll surges to over 2,200
- Kris Aquino is alive, says friend amid reports of death
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Lacson to govt: Protect education budget
- Russia hits seat of Ukraine government in war's biggest air attack
- UK, Japan, South Korea endure hottest summer on record
