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.
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.
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.”
”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://052298.com
- Argentine police recover Nazi-looted painting spotted in property ad
- Australia halts logging for koala haven on eastern coast
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Comelec defers reconstitution of BARMM parliamentary districts
- Israel ups pressure on Gaza City
- LPA may still develop into short-lived tropical cyclone
- Quezon City hails directive for national projects to get local permits
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
