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., This news data comes from:http://ksgeqnyn.yamato-syokunin.com
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
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Thai tycoon takes office as PM after royal endorsement
- Search for survivors after Afghan earthquake kills 800
- Mandela grandson says he will join Gaza aid boat
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- PNP chief supports lowering age of discernment
- Comelec defers reconstitution of BARMM parliamentary districts
- Gaza at 'breaking point,' says UN food agency chief after visit
