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://akb.705-888.com
Go files housing development bill
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.
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Wife of Australian man wanted in police killings urges him to surrender
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- France seized by fears of new political crisis
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Marcos signs laws creating more court branches
- Israel flattens high-rise as it tells Gaza City residents to flee
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Marcos confers diplomatic merit award on two ambassadors
