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://jscui.gyglfs.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.
Go files housing development bill
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.
- Taiwan, China locked in historical word war
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Drones take on Everest's garbage
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- North Korean leader inspects new missile factory ahead of visit to China
- Over 800 killed as quake rocks Afghanistan
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- DPWH exec asked lawmaker to make budget insertions — Lacson
- Sarah Discaya grilled by Senate over alleged DPWH links
