SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://qx-kdfp-sqwq-po.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.
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
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Globe: Mobile data helps drive national progress
- Quezon City hails directive for national projects to get local permits
- Former PNP chief Torre III offered new government post
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Go Negosyo, CFO push migrant empowerment
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- House justice panel to probe US' extradition request for Quiboloy
- Labubu fans flock to stores after launch of mini dolls
- Court rules on subdivision open spaces, road lots
