SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill, This news data comes from:http://ywbwt.redcanaco.com
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.
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.
- DPWH opens foreign-assisted projects to LGUs
- Prince Harry to visit UK on anniversary of queen's death
- Recto: No exemption for US tech firms from digital tax
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- New judge to handle Dengvaxia cases named; hearing set
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Lookout bulletins out vs Atong Ang, Barretto
- Sotto to Lead Senate again as majority votes to oust Escudero
- House tackles P881B public works budget amid flood control anomalies
