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.
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, This news data comes from:http://www.gangzhifhm.com
”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.
- Sara favors punishing officials, lifestyle checks
- Palace suspends govt work, classes in several areas due to bad weather
- 'Ondoy'-level rains swamp Quezon City
- Red Cross head says mass evacuation of Gaza City 'impossible'
- 'New' position being offered to Torre — Palace
- Manila mayor warns against mobs, orders police to maintain peace and order
- Social pension eyed for indigent seniors
- DBP launches P50M program for education
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- La Niña may return but temperatures will remain high, UN says
