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://ltbu-vh-hwp-yqqo.771bg.com
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.”
”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 illegally deploying oil rigs in our waters
- Tokyo logs record 10 days of 35 C or higher
- Marcos opens Hyundai's shipyard in PH
- DPWH opens foreign-assisted projects to LGUs
- Fears of new political crisis grip France
- Customs preparing report on Discayas’ 28 luxury cars
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Made in China? The remarkable tale of Venice's iconic winged lion
- Over 800 killed as quake rocks Afghanistan
- N. Korea test-fires two 'new' air defense missiles
