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://771bg.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.”
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.
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Nepali court: Hindu holy men's nudity not obscene
- The rot goes deep: Marcos decries decades-old corruption
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Thailand acting PM moves to dissolve parliament — party
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Philippines to launch shame campaign vs traffic violators
- Vietnam evacuates thousands ahead of Typhoon Kajiki
