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.”
”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://goa-qf-odh-exv.yamato-syokunin.com
Go files housing development bill
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- India's Modi meets Japan's Ishiba as he begins Asia tour
- US church shooter 'obsessed with idea of killing children'
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Police brutality fuels soaring tensions in Indonesia
- House holds budget review with 21 civil society organizations
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Comelec probes 15 contractors for illegal campaign donations
- 102-year-old becomes oldest person to summit Mount Fuji
