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://www.052298.com
”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
- Classes suspended in 10 Metro Manila cities due to rains
- Indonesian finance minister's home looted as protest anger grows
- DPWH told to build evacuation centers
- Firefighters arrested by US immigration officials
- Peace efforts in limbo as Kyiv mourns 23 dead
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Anutin elected as Thailand's new prime minister
- Maduro hits ‘illegal’ US troops deployment
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Thai woman jailed for 43 years for lese majeste freed
