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://jv-mj-uvr-jfi.jyxingfa.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.
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- Trump says he wants to meet North Korea's Kim again
- Japanese climber, 102, sets Mount Fuji record
- Kris Aquino is alive, says friend amid reports of death
- MMDA inks deal with DBM for G-3 program
- Lacson: DPWH exec sought ‘insertions’
- Peace efforts in limbo as Kyiv mourns 23 dead
- Marcos opens WorldSkills Asean competition
- House tackles P881B public works budget amid flood control anomalies
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
