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., This news data comes from:http://www.jyxingfa.com
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.
- Protesters storm Discaya compound, Sotto calls for calm
- Philippine experts urge harm reduction strategy for tobacco control
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Made in China? The remarkable tale of Venice's iconic winged lion
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- PH economic losses hit 100B from corruption in flood control projects
- Marcos signs mining tax regime law
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Unnamed skeletons? US museum at center of ethical debate
- Meralco: Lower electricity rates expected for Sept
