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
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://xs888999.com
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
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- House tackles P881B public works budget amid flood control anomalies
- Japan PM Ishiba bounces back in polls after election debacle
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- PH to host seafarers’ welfare forum
- IBP forms committee on good governance to probe corruption
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- No peace without end to hostilities –Arab bloc
- Pasig fire kills child, injures mother as she tries to save him
- LBC Express Holdings top executive to retire in Oct.
