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://xflu-kuby-ek-afr.aichuwei.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.
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Filipino fulfills dream of performing with K-pop group before home fans
- Marcos names Dizon as DPWH secretary
- CFO office moves from Quezon City to Pasay
- Gloria Arroyo files bill to empower Office of the Vice President
- Indonesia leader orders investigation into driver's protest death
- US approves .5M in assistance to Nigeria to help address hunger
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- DPWH opens foreign-assisted projects to LGUs
