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., This news data comes from:http://nsv-eiui-th-iif.ycyzqzxyh.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.”
Go files housing development bill
”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
- Prompt release of educational aids sought
- Comelec probes 15 contractors for illegal campaign donations
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- China to bolster non-Western alliances at summit, parade
- Appointments panel holds first session
- Housing secretary declares 'zero-tolerance' policy on corruption
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
