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, This news data comes from:http://alyf.052298.com
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.
- COA launches sweeping audit of flood control projects
- Marcos to attend UN meet in New York in Sept- Palace
- Japan govt seeks to triple spending on drones
- PH to host seafarers’ welfare forum
- Escudero says new lease law to make PH more appealing to investors
- IBP to form good governance panel
- Australia government condemns anti-immigration rally in Sydney
- DMW: 19 distressed OFWs return home from Jeddah
- Fears of new political crisis grip France
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
