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., This news data comes from:http://yamato-syokunin.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.
- House resumes budget briefings
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Marcos embarks on three-day state visit to Cambodia
- US strike marks shift to military action against drug cartels
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Palace rejects China's 'troublemaker' tag
- Marcos signs law giving 99-year land lease to foreign investors
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Leviste files charges against DPWH engineer who tried to bribe him
