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://yamato-syokunin.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- South Korea to ban mobile phones in school classrooms
- China's Communist rulers push party role before World War II anniversary
- 'I have no resentment,' says Torre after dismissal as PNP chief
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Artikulo Onse' group calls for independent panel to probe flood control corruption
