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.
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.”
Go files housing development bill, This news data comes from:http://www.705-888.com
”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.
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Group presses DA on delayed fertilizer subsidies
- SC orders comment on petitions vs polls
- 'Ondoy'-level rains swamp Quezon City
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- PH to see ‘blood moon’ Sept. 7-8
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
