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://puei.771bg.com
Go files housing development bill
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.”
”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
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- South Korea's Lee faces pivotal test at first summit with Trump
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- White House fires US health agency head after she refused to quit
- DPWH engineer in bribery scandal placed under preventive suspension
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- PH, Australia commend ‘impressive’ joint sea drills
