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://ycyzqzxyh.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
- PH eyes global partners in biggest railway project
- Israeli protesters call for hostage deal ahead of cabinet meeting
- 11 foreigners killed in Portugal funicular crash
- House tackles P881B public works budget amid flood control anomalies
- Roxas matriarch Judy Araneta-Roxas, 91
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- More funding sought for sports commission
- Aggressive promos in unregulated online gambling platforms draw Filipinos — study
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Read to reduce sentence, Uzbekistan tells prisoners
