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://www.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.
- Comelec defers BARMM district reconstitution
- SSS pension reform program starts in September
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Marcos to create independent commission to investigate flood control anomalies
- Earthquake kills 250, injures 500 in Afghanistan
- Sara Discaya admits owning 28 luxury cars
- Xi and Putin round on West at regional summit in China
- New mining law to balance profit, ecology
