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://www.705-888.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.
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- New Zealand to allow some wealthy foreign investors onto property market
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Motive probed for US shooting that killed two children, injured 17
- Need to pee? Japan has QR code for that
- DPWH engineer in bribery scandal placed under preventive suspension
- Japan PM Ishiba bounces back in polls after election debacle
- Gloria Arroyo files bill to empower Office of the Vice President
- Plea written in blood saves Chinese woman trapped in locked room
- South Korean prosecutors indict Yoon's wife, former PM
