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://www.yamato-syokunin.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.
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.
Go files housing development bill
- DOJ indicts Abra Mining for fraudulent trading
- Mexican boxer Chavez Jr. released from prison pending trial
- House resumes budget briefings
- DSWD program reduced hunger
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Go Negosyo, CFO push migrant empowerment
- DFA: No US extradition request for Quiboloy
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- ICC postpones Duterte’s confirmation hearing after defense panel cites fitness concerns
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
