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.
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., This news data comes from:http://yamato-syokunin.com
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Putin lands in Tianjin for summit hosted by China
- Thailand set for vote on new PM after dissolution bid rejected
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Thai court to rule on PM's fate after Hun Sen call leak
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- US warship heading toward Caribbean Sea
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
