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.
Go files housing development bill
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., This news data comes from:http://pwwyu.aichuwei.com
- Australia's mushroom murderer faces victims' family in court
- Puno seeks probe of anomalous projects ‘funders’
- PNP chief supports lowering age of discernment
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Budget shortfall narrows in July
- Labubu fans flock to stores after launch of mini dolls
- Duterte lawyers take aim at ICC prosecutor
- 102-year-old becomes oldest person to summit Mount Fuji
- DICT grants amnesty to unregistered delivery firms
