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., This news data comes from:http://fqpvflom.705-888.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.
Go files housing development bill
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Wildfires producing 'witches' brew' of air pollution – UN
- 'Ondoy'-level rains swamp Quezon City
- Anti-fake news bill filed anew in House
- PH Army showcases disaster response capabilities before Thai defense officials
- No peace without end to hostilities –Arab bloc
- National Guard troops begin carrying weapons in US capital
- Marcos soon to create commission to probe flood control projects
