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://lmejftvh.705-888.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
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Pope Leo: We must listen first before speaking
- Legarda pushes Magna Carta of Waste Workers
- 'Mockery of science': US experts blast Trump climate report
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Immigration deports 49 South Korean fugitives
- Gaza at 'breaking point,' says UN food agency chief after visit
- Manila marks National Heroes Day with job fair
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- PNP chief Torre relieved from post — Palace
