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.
Go files housing development bill, This news data comes from:http://xs888999.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.
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- WBO champ looms as Pacquiao’s next opponent
- Nartatez relieves Fajardo as PNP spokesman
- Housing secretary declares 'zero-tolerance' policy on corruption
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Duterte’s defense team outlines ICC strategy
- NACC renews appeal: Adopt neglected kids
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- South Korea to ban mobile phones in school classrooms
- Discaya says her family owns nine companies
