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://yndxm.xs888999.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.
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Islamic State claims deadly attack on Pakistan rally
- Pasig City continues barangay aid for efficiency, ends patronage politics
- New mining law to balance profit, ecology
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- South Korean President vows support to Koreans arrested in US immigration raid
- Marcos to youth: Help in nation-building
