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://xa-yudi-trxf-qm.705-888.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.”
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.
Go files housing development bill
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Cambodia MPs pass law allowing stripping of citizenship
- Comelec to resume BARMM polls ballot printing Thursday
- More funding sought for sports commission
- Marcos opens WorldSkills Asean competition
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Xi slams 'bullying' in speech to regional leaders at summit
- Customs preparing report on Discayas’ 28 luxury cars
