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.
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://ymw-havf-ppkv-uj.771bg.com
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.
- EU massive fine against Google draws Trump threat
- Marcos signs law giving 99-year land lease to foreign investors
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Thai tycoon takes office as PM after royal endorsement
- Indonesian police officer fired over killing that sparked protests
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Boy killed, mother injured in Pasig fire
- Van Gogh Museum 'could close' without more help from Dutch govt
- Hontiveros urges probe on Chinese faking Filipino identity
- Legarda pushes Magna Carta of Waste Workers
