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.
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://iyw.xs888999.com
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.
- SEARCH WARRANT
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Comelec probes 15 contractors for illegal campaign donations
- Bonoan resigned due to command responsibility — Marcos
- EU massive fine against Google draws Trump threat
- DICT grants amnesty to unregistered delivery firms
- Trump withdraws Kamala Harris's Secret Service protection
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
