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://www.gangzhifhm.com
Go files housing development bill
”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.
- COA probes Iqbal on spending of P1.7B in one day
- Villanueva: Regularize contractual govt workers
- Bonoan resigns, Dizon named DPWH chief
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Israel expects 1 million Gazans to flee new offensive
- Gaza at 'breaking point,' says UN food agency chief after visit
- Gloria Arroyo files bill to empower Office of the Vice President
- Senate cites former Bulacan assistant district engineer in contempt
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- New mining law to balance profit, ecology
