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.
Go files housing development bill
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., This news data comes from:http://aichuwei.com
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Indonesian police officer fired over killing that sparked protests
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Japan PM decides to quit as opponents seek leadership election
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Israeli PM tells Gaza City residents to 'leave now'
- Filipinos see blockchain as key to ending corruption, support bill filed in Senate — survey
- Modi, Ishiba agree to boost economic ties
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
