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., This news data comes from:http://xrf.771bg.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.
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- DPWH exec fired, 2 others face dismissal over flood control mess
- EU massive fine against Google draws Trump’s ire
- France seized by fears of new political crisis
- Israel launches new spy satellite in 'message' to enemies
- DICT grants amnesty to unregistered delivery firms
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- 20 people missing after deadly Indonesia protests
- China to bolster non-Western alliances at summit, parade
- House resolution filed to investigate 'funders' of anomalous projects
