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://cdjv-au-nptg-sop.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.
- Afghan quake death toll surges to over 2,200
- Prince Harry to visit UK on anniversary of queen's death
- Unnamed skeletons? US museum at center of ethical debate
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- P1.7-M shabu seized in Taguig buy-bust
- 'Ondoy'-level rains swamp Quezon City
- Putin vows not to back down in Ukraine
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Marcos approves EO for commission to probe flood project anomalies
- National Guard troops begin carrying weapons in US capital
