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.
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://gyglfs.com
Go files housing development bill
- Nepali court: Hindu holy men's nudity not obscene
- DOTr denies ordering shutdown of online selling platforms
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- LBC Express Holdings top executive to retire in Oct.
- Heavy rains flood parts of Metro Manila anew
- Gasoline, diesel prices to increase by P1 next week
- Marcos to attend UN meet in New York in Sept- Palace
- Kris Aquino is alive, says friend amid reports of death
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
