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://iiwrgkv.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
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- ‘New NBI chief must be career official’
- Israel launches new spy satellite in 'message' to enemies
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Customs preparing report on Discayas’ 28 luxury cars
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- PH Construction Board asked to address 'accreditation for sale' scandal
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Trump wants to meet Norea Korea's Kim again
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
