SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill, This news data comes from:http://fy.xs888999.com
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.”
”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.
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Discayas name lawmakers, DPWH officials involved in alleged extortion
- Trump rebrands Department of Defense as 'Department of War'
- DSWD program reduced hunger
- Mass housing developers laud Pag-IBIG Fund
- DOH unveils 7 priority measures at House hearing
