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.”
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://www.gyglfs.com
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- DMW: 19 distressed OFWs return home from Jeddah
- IBP forms committee on good governance to probe corruption
- PH, Australia commend ‘impressive’ joint sea drills
- Marcos opens Hyundai's shipyard in PH
- Indonesian police officer fired over killing that sparked protests
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- US senators to reinforce 'partnership' with Taiwan
- House starts flood control probe
- Pope Leo: We must listen first before speaking
