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://www.yamato-syokunin.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.
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Hontiveros urges probe on Chinese faking Filipino identity
- Protesters storm Discaya compound, Sotto calls for calm
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Customs preparing report on Discayas’ 28 luxury cars
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Senate cites former Bulacan assistant district engineer in contempt
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Thai court to rule on PM's fate after Hun Sen call leak
