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.”
”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., This news data comes from:http://www.xs888999.com
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Trump wants to meet Norea Korea's Kim again
- Marcos mum on Magalong joining independent commission for DPWH probe
- US Spirit Airlines files for bankruptcy again
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Pakistanis no reprieve from floods yet
- Workers urge Marcos to stop corruption by banning political dynasties
- 'Ondoy'-level rains swamp Quezon City
- Former president Duterte's health stable despite high blood sugar, says VP Sara
