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://sm-ulgk-brp-lw.gyglfs.com
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.
- Two dead as strong earthquake jolts Afghanistan
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- ALPAS Consultancy bags five awards in Philippine Quill debut
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Palace suspends govt work, classes in several areas due to bad weather
- Mexican drug lord faces life in prison after pleading guilty in US court
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
