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., This news data comes from:http://www.xs888999.com
Go files housing development bill
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Supreme Court urged to act on fake complaints
- Marcos to create independent commission to investigate flood control anomalies
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- 'Lannie' exits PH — Pagasa
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Manila mayor warns against mobs, orders police to maintain peace and order
- South Korean prosecutors indict Yoon's wife, former PM
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
