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://dokwbm.771bg.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill
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.
- Philippines to work more closely with US amid regional challenges
- 15 drug war victims cleared to join Duterte's ICC case
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Israel launches new spy satellite in 'message' to enemies
- Denmark summons US envoy over 'attempts to influence' Greenland
- PH economic losses hit 100B from corruption in flood control projects
- Israel military says controls 40 percent of Gaza City
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- IBP forms committee on good governance to probe corruption
