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.”
”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://baon-wrr-pgmr-nb.aichuwei.com
Go files housing development bill
- Makati distributes Blu Card cash aid
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Private groups back DHSUD chief's anti-corruption policy
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- South Korean President vows support to Koreans arrested in US immigration raid
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- SEARCH WARRANT
