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://vxyy-hqol-prt-yvy.052298.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.”
”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
- LPA may still develop into short-lived tropical cyclone
- Thai Court: PM Shinawatra violated ethics rules
- Leviste files charges against DPWH engineer who tried to bribe him
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Japan PM Ishiba bounces back in polls after election debacle
- Filipino fulfills dream of performing with K-pop group before home fans
- DFA: No US extradition request for Quiboloy
- PH, Australia, Canada hold joint sea drills
- P270M rock shed useless – Marcos
