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
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.
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- 100K Pakistanis flee amid flood threat
- Japan prince comes of age as succession crisis looms
- 1.2K pass Electrical Engineers exam
- Go seeks more support for Filipino athletes
- Magnitude 5.1 earthquake rattles Surigao del Sur
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Former DPWH chief denies links to corruption
