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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://705-888.com
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.
Go files housing development bill
- Argentina hunts Nazi-looted painting revealed in property ad
- Indonesia, US and allies launch joint military drills
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Trump moves to cut more foreign aid, risking shutdown
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Venezuela deploys warships, drones as US destroyers draw near
- Marikina City chief of police relieved
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
