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://gangzhifhm.com
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.”
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.
- ₱1.7M shabu seized in Taguig buy-bust
- Indonesian finance minister's home looted as protest anger grows
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- China 'unstoppable', says Xi with Kim, Putin at his side
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Maduro calls for dialogue hours after Trump’s threat
- IBP to form good governance panel
- 9 dead in Ecuador after bus plunges into ravine
