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://tm.gyglfs.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.
- Discaya says her family owns nine companies
- Prompt release of educational aids sought
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- More funding sought for sports commission
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Court rules on subdivision open spaces, road lots
- Co out of country for medical reasons
- Tokyo logs record 10 days of 35 C or higher
