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://www.xs888999.com
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.
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Bersamin letter proves Torre reassignments ‘valid’
- Pagasa monitors LPA off Cavite, may still become tropical depression
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- 500 Internal Server Error
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Putin facing mounting pressure from the West
- Macron's decision to recognize Palestinian state angers Israel and the US
- Comelec upholds cancelation of Duterte Youth registration
- Diokno urges Philippines to rejoin ICC to counter China's aggression
