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., This news data comes from:http://alt-oh-et-ta.705-888.com
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.”
”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.
Go files housing development bill
- Discaya says her family owns nine companies
- Pasig fire kills child, injures mother as she tries to save him
- Drug war whistleblower Royina Garma returns to PH after US detention
- Palace to Discayas: Prove allegations
- Trump tells Europe to put economic pressure on China over Ukraine
- 2 Marikina policemen accused of molestation
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- Oil firms to raise pump prices Tuesday
- Australia's mushroom murderer faces victims' family in court
