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
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.”
”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, This news data comes from:http://pir-qafr-lk-irng.yamato-syokunin.com
- Tokyo logs record 10 days of 35 C or higher
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- DICT grants amnesty to unregistered delivery firms
- Discaya’s construction companies competed against each other during biddings
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- Gasoline, diesel prices to increase again next week
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Japan PM decides to quit as opponents seek leadership election
