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://www.705-888.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.
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.
Go files housing development bill
- Thai opposition's kingmaking summit fails to back new PM
- PH has chance of getting UNSC seat - Manalo
- Macron rushes to find new French PM
- Sotto files bill to amend party-list system
- Appointments panel holds first session
- Bonoan resigned due to command responsibility — Marcos
- Dizon requests for immigration lookout order vs ex-DPWH exec
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Earthquake kills 250, injures 500 in Afghanistan
- CFO office moves from Quezon City to Pasay
