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.
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.”, This news data comes from:http://dcbx-drdt-tjj-qt.gyglfs.com
”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.
- Thai opposition's kingmaking summit fails to back new PM
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Former Bulacan district engineer admits going to casinos
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- 'Lannie' exits PH — Pagasa
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- CFO office moves from Quezon City to Pasay
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- MPD announces road closures for Bar exams
