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.”
Go files housing development bill, This news data comes from:http://hvmpphb.erlvyiwan.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.
- Thailand's Parliament to vote Friday for a new prime minister
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Tax bureau hunts down contractors over questionable flood control deals
- China races to build world’s largest solar farm
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Wildfire tears through California gold rush town
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Fire breaks out in Manila residential area
- LTO summons driver who berated MMDA enforcer
