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://tgpoxhtt.aichuwei.com
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.
Go files housing development bill
- Thousands protest in Indonesia as military deployed in capital
- Task force cites new threats to media workers
- Robinsons to build 9-story office building in Davao City
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- France seized by fears of new political crisis
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- LTO told to summon 2 DPWH engineers with fake driver’s license
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Open mic caught Xi, Putin discussing immortality
- Sarah Discaya grilled by Senate over alleged DPWH links
