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.
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.”, This news data comes from:http://www.xs888999.com
”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.
- Thousands rally in Serbia and accuse police of brutality at anti-government demonstrations
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Oil firms to raise fuel prices this week
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Makati distributes Blu Card cash aid
- Sara Discaya admits owning 28 luxury cars
- SC clarifies rules on land ownership
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
