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.
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., This news data comes from:http://erlvyiwan.com
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 mum on Magalong joining independent commission for DPWH probe
- Sen. Bong Go files bill for better health worker protection, benefits
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- 9 dead in Ecuador after bus plunges into ravine
- WBO champ looms as Pacquiao’s next opponent
- Anti-fake news bill filed anew in House
- 11 foreigners killed in Portugal funicular crash
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
