SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://lh.yamato-syokunin.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.
Go files housing development bill
- SC orders comment on petitions vs polls
- Drug war victims ready to face Duterte as ICC sets hearing on crimes against humanity
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Marcos opens WorldSkills Asean competition
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Protesters storm Discaya compound, Sotto calls for calm
- Israel military says controls 40 percent of Gaza City
- One in four people lack access to safe drinking water – UN
