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.
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.”, This news data comes from:http://ivkeder.aichuwei.com
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.
- Comelec defers BARMM district reconstitution
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- Govt monitoring Chinese ‘sleeper agents’ in PH
- China 'unstoppable', says Xi with Kim, Putin at his side
- Construction managers, developers back Housing chief's anti-corruption advocacy
- French couple kept panther that roamed nearby rooftops
- Washington makes military aid overtures to Sahel juntas
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
