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.”
”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., This news data comes from:http://www.redcanaco.com
Go files housing development bill
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- DPWH to revisit budget, to complete revisions within 2 weeks
- Estrada, Villanueva tagged in House flood control mess, says 'SOP was 30%'
- PH to host seafarers’ welfare forum
- French PM ousted in parliament confidence vote
- Hontiveros pushes P15,000 salary hike for teachers
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- No winner in Grand, Megalotto draws for Aug 27
- Workers urge Marcos to stop corruption by banning political dynasties
