SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://yamato-syokunin.com
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.
Go files housing development bill
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- DPWH to revisit budget, to complete revisions within 2 weeks
- Israel city honors Quezon’s wartime rescue of Jews
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- PH Construction Board asked to address 'accreditation for sale' scandal
- Recto: No exemption for US tech firms from digital tax
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Australia's 'mushroom murderer' handed life in prison with parole
