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.
Go files housing development bill, This news data comes from:http://um-pyva-vs-jt.yamato-syokunin.com
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.
- Discaya companies' licenses revoked for bid-rigging
- Thai tycoon takes office as PM after royal endorsement
- No winner in lotto draws for Aug 30
- New mining law to balance profit, ecology
- Housing secretary declares 'zero-tolerance' policy on corruption
- Trump issues rare rebuke to Netanyahu over Qatar strikes
- Pasig fire kills child, injures mother as she tries to save him
- Australia's 'mushroom murderer' handed life in prison with parole
- DILG denies claims ex-PNP chief ousted over firearms purchase
- DPWH opens foreign-assisted projects to LGUs
