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.redcanaco.com
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.
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.
- 102-year-old becomes oldest person to summit Mount Fuji
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- House resolution filed to investigate 'funders' of anomalous projects
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- AKG chief denies using ‘kidnap’ car for personal purposes
- DILG denies allegations that PNP chief fired over firearms deal
- LTO told to summon 2 DPWH engineers with fake driver’s license
- Marcos opens Hyundai's shipyard in PH
- Sotto takes oath as Senate president
- WBO champ looms as Pacquiao’s next opponent
