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://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.
Go files housing development bill
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Lacson warns lawmakers may be complicit in ghost flood control projects
- Made in China? The remarkable tale of Venice's iconic winged lion
- Duterte’s defense team outlines ICC strategy
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Ballots for oct 13 BARMM polls completed – Comelec
- Customs recovers 10 more Discaya luxury cars
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- President Marcos launches HD Hyundai Shipyard in Subic
