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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://redcanaco.com
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
- 1 of 2 suspects in Pasay robbery, rape arrested
- Sarah Discaya grilled by Senate over alleged DPWH links
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Fire breaks out in Manila residential area
- Epstein victims compiling list of sexual abusers
- Marcos signs mining tax regime law
- Searchers retrieve bodies as Afghan quake toll seen to rise
