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., This news data comes from:http://fqphvi.gyglfs.com
Go files housing development bill
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.”
Go files housing development bill
”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.
- One in four people lack access to safe drinking water – UN
- Fire breaks out in Manila residential area
- Red Cross head says mass evacuation of Gaza City 'impossible'
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Angkas supports DICT's amnesty program for unregistered delivery services
- Harold Cabreros takes post as new OCD chief
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- IBP forms committee on good governance to probe corruption
- SEARCH WARRANT
- PH, Australia, Canada hold joint sea drills
