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://pwy-pjke-rof-xlp.705-888.com
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.
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.
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Konektadong Pinoy Bill has lapsed into law — Palace
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- No winner in Ultra, Megalotto draws for Sept 5
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Budget shortfall narrows in July
- In Taiwan, competing narratives over the meaning of China's massive military show
- Tax bureau hunts down contractors over questionable flood control deals
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
