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://yc-se-gul-vy.705-888.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
- Public Works chief to press criminal charges against Bulacan engineer
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Thai opposition's kingmaking summit fails to back new PM
- President Marcos launches HD Hyundai Shipyard in Subic
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- Marcos urged to raise WPS resolution at UN
- Thailand's Parliament to vote Friday for a new prime minister
- Workers urge Marcos to stop corruption by banning political dynasties
- Private groups back DHSUD chief's anti-corruption policy
- New Zealand to allow some wealthy foreign investors onto property market
