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://www.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.
- Marcos secures business and government deals in Cambodia visit
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Marcos urged to raise WPS resolution at UN
- Pagasa monitors LPA off Cavite, may still become tropical depression
- US approves .5M in assistance to Nigeria to help address hunger
- 95 IMAGES OF MARY
- ‘Discayas’ collaborators in BOC to be prosecuted’
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- 'Lannie' exits PH — Pagasa
- North Korea's Kim in China ahead of massive military parade
