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://rlmq-mfef-afmj-rhk.gyglfs.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.”
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.
- No winner in Ultra, Megalotto draws for Aug 29
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- US church shooter 'obsessed with idea of killing children'
- Wildfire tears through California gold rush town
- China is showing off its weaponry in a tightly controlled military parade
- Indonesia, US and allies launch joint military drills
- PH, Australia commend ‘impressive’ joint sea drills
- Rubio says US warned France on Israel annexation moves
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Discaya’s construction companies competed against each other during biddings
