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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://rsyepaep.aichuwei.com
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.
Go files housing development bill
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Argentine police recover Nazi-looted painting spotted in property ad
- Fuel prices up for 3rd straight week
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- MMDA readies for FIVB men’s volleyball
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- La Niña may return but temperatures will remain high, UN says
- Rubio says US warned France on Israel annexation moves
- Pagasa sees cyclone-free week across PH
