SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.
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., This news data comes from:http://anxrllcd.ycyzqzxyh.com
- Hontiveros pushes P15,000 salary hike for teachers
- Suspect in 2012 killing of Dutch aid worker freed
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- DOJ indicts Abra Mining for fraudulent trading
- Gasoline, diesel prices to increase again next week
- Thai Court: PM Shinawatra violated ethics rules
- Philippines to launch shame campaign vs traffic violators
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Planning via ‘gender lens’ to make cities more inclusive — expert
