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, This news data comes from:http://jyxingfa.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Sarah Discaya grilled by Senate over alleged DPWH links
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Court rules on subdivision open spaces, road lots
- COA launches sweeping audit of flood control projects
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Four children killed by parents in Dominican Republic — police
