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://uhqb-nj-okgi-rnnq.redcanaco.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.
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.
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- New DPWH chief Dizon: "A department can't investigate itself"
- Group: Register for free PhilHealth medicines
- Xi slams 'bullying' in speech to regional leaders at summit
- Makati distributes Blu Card cash aid
- 2 Marikina policemen accused of molestation
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Wildfires producing 'witches' brew' of air pollution – UN
- Harold Cabreros takes post as new OCD chief
