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., This news data comes from:http://www.yamato-syokunin.com
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.”
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.
- Discayas must return money before seeking immunity – Remulla
- Marcos to youth: Help in nation-building
- A summit and parade in China may signal a geopolitical shift
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Japan prince comes of age as succession crisis looms
- Public Works chief to press criminal charges against Bulacan engineer
- Bonoan freezes DPWH travel passes
- Makati distributes Blu Card cash aid
- Marcos lauds Alex Eala’s win in Guadalajara
- 2 LPAs monitored inside PAR, bringing rain to Luzon
