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, This news data comes from:http://ina.gyglfs.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.
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.
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Discaya says her family owns nine companies
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Lacson to govt: Protect education budget
- IBP to form good governance panel
