SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
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., This news data comes from:http://shbqglf.aichuwei.com
- DPWH exec fired, 2 others face dismissal over flood control mess
- Marcos mum on Magalong joining independent commission for DPWH probe
- Nepali court: Hindu holy men's nudity not obscene
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Manila mayor warns against mobs, orders police to maintain peace and order
- PH to see ‘blood moon’ Sept. 7-8
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Venezuela builds up border security over US warships
- PH Construction Board asked to address 'accreditation for sale' scandal
- Puno seeks probe of anomalous projects ‘funders’
