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., This news data comes from:http://xise-dvxu-bqen-jkb.redcanaco.com
Go files housing development bill
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.”
”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 of 2 suspects in Pasay robbery, rape arrested
- Cambodia MPs pass law allowing stripping of citizenship
- Thailand's Parliament to vote Friday for a new prime minister
- French couple kept panther that roamed nearby rooftops
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Gloria Arroyo files bill to empower Office of the Vice President
- No winner in lotto draws for Aug 28
- Trump rebrands Department of Defense as 'Department of War'
- Meeting South Korea, Trump could eye new chance with North
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
