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://redcanaco.com
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.
- New DPWH chief Dizon: "A department can't investigate itself"
- Marcos 'ready' to undergo lifestyle check- Palace
- Japan PM decides to quit as opponents seek leadership election
- US appeals court blocks Trump's use of wartime law for deportations
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Suspect in 2012 killing of Dutch aid worker freed
- Palace hits Discayas over ‘misinformation’ on PH film center project
- ‘Gomez ignorant of how media works’
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
