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.”, This news data comes from:http://www.gyglfs.com
”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.
- Australia government condemns anti-immigration rally in Sydney
- CFO moves office from QC to Pasay
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Dizon to order DPWH officials to submit courtesy resignation
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Venezuela deploys warships, drones as US destroyers draw near
- Modi, Ishiba agree to boost economic ties
- Seoul says over 300 South Koreans held in US battery plant site raid
