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://052298.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.”
Go files housing development bill
”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
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- 102-year-old becomes oldest person to summit Mount Fuji
- Thai opposition holds kingmaking summit deciding new PM
- Gloria Arroyo files bill to empower Office of the Vice President
- Argentine police recover Nazi-looted painting spotted in property ad
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Alex Eala makes history With comeback victory at US Open
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
