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.
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.
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://jkci-rdgk-bjy-atko.aichuwei.com
”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.
- Appointments panel holds first session
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- India to probe giant zoo run by son of Asia's richest person
- Escudero says new lease law to make PH more appealing to investors
- Ballots for oct 13 BARMM polls completed – Comelec
- Thailand acting PM moves to dissolve parliament — party
- Dizon to order DPWH officials to submit courtesy resignation
- Oil firms to raise fuel prices this week
- Iran says open to US nuclear talks, rejects missile curbs
