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.
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., This news data comes from:http://www.771bg.com
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.”
”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.
- NHA gives cash aid to families affected by calamity in Manila
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- US approves .5M in assistance to Nigeria to help address hunger
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Van Gogh Museum 'could close' without more help from Dutch govt
- Duterte lawyer cites failing health, urges return to Philippines after ICC postpones hearing
- Social pension eyed for indigent seniors
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Trump withdraws Kamala Harris's Secret Service protection
