SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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., This news data comes from:http://witu-mnpr-cu-ffn.erlvyiwan.com
Go files housing development bill
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.
- Australia's mushroom murderer faces victims' family in court
- Dizon to order DPWH officials to submit courtesy resignation
- Wildfire tears through California gold rush town
- Marcos suspends importation of regular, well-milled rice for 60 days
- No Filipino fatalities in New York Tour-Bus crash, says DFA
- Kris Aquino is alive, says friend amid reports of death
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- 'Lannie' exits PH — Pagasa
