SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ofjp.771bg.com
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
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- US strike marks shift to military action against drug cartels
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- PH Defense chief slammed for 'bad mouthing' China
- No winner in lotto draws for Aug 28
- Can a giant seawall save Indonesia's disappearing coast?
- No winner in Ultra, Megalotto draws for Sept 5
