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.
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://www.gangzhifhm.com
”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.
- Comelec defers reconstitution of BARMM parliamentary districts
- Suspect in 2012 killing of Dutch aid worker freed
- Pakistanis no reprieve from floods yet
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Escudero says new lease law to make PH more appealing to investors
- South Korea's Lee faces pivotal test at first summit with Trump
- Nartatez rules out 'quota' arrests
- SC clarifies rules on land ownership
- Arjo Atayde, Vice Ganda, Marian Rivera win top acting honors at 73rd FAMAS Awards
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
