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://drec.xs888999.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.
- Putin vows not to back down in Ukraine
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Tax bureau hunts down contractors over questionable flood control deals
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Mexican boxer Chavez Jr. released from prison pending trial
- Marcos willing to submit to a lifestyle check
- Ukraine says Russia linked to lawmaker's killing
