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://fvtobv.aichuwei.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.
- Israel ups pressure on Gaza City
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- SEARCH WARRANT
- India will not 'bow down,' trade minister says after US tariffs
- Thailand’s next PM reaffirms fresh polls promise
- DPWH exec fired, 2 others face dismissal over flood control mess
- Marcos urged to raise WPS resolution at UN
- No peace without end to hostilities –Arab bloc
