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://vfxb.771bg.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
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- NACC renews appeal: Adopt neglected kids
- Duterte lawyers take aim at ICC prosecutor
- Filipinos see blockchain as key to ending corruption, support bill filed in Senate — survey
- Comelec probes 15 contractors for illegal campaign donations
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Tokyo logs record 10 days of 35 C or higher
- PH eyes global partners in biggest railway project
- DPWH told to build evacuation centers
