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://pupcspft.xs888999.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
- Sotto ousts Escudero in Senate coup
- Supreme Court urged to act on fake complaints
- Israeli strikes in Yemen's capital kill six, Houthis say
- South Korea to ban mobile phones in school classrooms
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- 40% of Filipinos are now obese, says Health expert
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- US appeals court blocks Trump's use of wartime law for deportations
