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://www.xs888999.com
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.”
”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.
Go files housing development bill
- Nepal to block unregistered social media platforms – govt
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Roxas matriarch Judy Araneta-Roxas, 91
- P270M rock shed useless – Marcos
- Israeli protesters demand hostage deal as cabinet meets
- Tax bureau hunts down contractors over questionable flood control deals
- Gloria Arroyo files bill to empower Office of the Vice President
- Cambodia MPs pass law allowing stripping of citizenship
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Puno seeks probe of anomalous projects ‘funders’
