SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.”
”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., This news data comes from:http://okfktrsi.gangzhifhm.com
Go files housing development bill
- Unnamed skeletons? US museum at center of ethical debate
- Israel ups pressure on Gaza City
- Housing secretary declares 'zero-tolerance' policy on corruption
- US Spirit Airlines files for bankruptcy again
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Trump moves to end US tariff exemption for small packages
