SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ydoswvmp.gyglfs.com
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.
Go files housing development bill
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.”
”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.
- DPWH to revisit budget, to complete revisions within 2 weeks
- ‘Large shark’ kills man off Sydney beach
- Angkas supports DICT's amnesty program for unregistered delivery services
- DILG denies allegations that PNP chief fired over firearms deal
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Alice Guo faces new cases over POGO land
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- BuCor chief calls for major reforms
- Nepali court: Hindu holy men's nudity not obscene
- 40% of Filipinos are now obese, says Health expert
