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.
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.”, This news data comes from:http://dcpf-dpbk-sibt-gey.052298.com
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.
- MMDA inks deal with DBM for G-3 program
- 2 Marikina policemen accused of molestation
- 4 policemen linked to sabungero case slapped with more administrative cases
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Marcos, first lady visit Cambodia to boost ties
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- South Korea's Lee faces pivotal test at first summit with Trump
- PNP chief Torre relieved, Nartatez to take over
