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://redcanaco.com
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.
Go files housing development bill
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- Plea written in blood saves Chinese woman trapped in locked room
- Social pension eyed for indigent seniors
- DPWH exec asked lawmaker to make budget insertions — Lacson
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Tokyo protests to Beijing over gas field in East China Sea
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Thousands protest in Indonesia as military deployed in capital
- White House fires US health agency head after she refused to quit
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
