SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ie-hc-xi-hkb.gangzhifhm.com
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.
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.”
Go files housing development bill
”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.
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Cusi charged over Malampaya deal
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Gasoline, diesel prices to increase again next week
- PH, Japan conduct search and rescue exercises
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Venezuela deploys warships, drones as US destroyers draw near
- Inflation up 1.5% in August
- ‘Large shark’ kills man off Sydney beach
