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.
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.
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://www.705-888.com
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Trump says he wants to meet North Korea's Kim again
- Marcos signs law giving 99-year land lease to foreign investors
- No winner in lotto draws for Aug 30
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- Tourists dice with danger on Hanoi's train street
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Nartatez rules out 'quota' arrests
- Bonoan resigned due to command responsibility — Marcos
