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.
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.”, This news data comes from:http://yamato-syokunin.com
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.
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Earthquake kills 250, injures 500 in Afghanistan
- Wildfires producing 'witches' brew' of air pollution – UN
- Duterte lawyer cites former president's failing health, urges return to PH after ICC postpones hearing
- Unnamed skeletons? US museum at center of ethical debate
- Putin and Modi in China for summit hosted by Xi
- NATO members to reach 2% defense spending goal this year
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Israel says to act with 'great force' in Gaza City
- 95 IMAGES OF MARY
