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., This news data comes from:http://www.gangzhifhm.com
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.
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Malabon City honors partners
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- Japanese climber, 102, sets Mount Fuji record
- Lacson clears air over conflict with Marcoleta on flood control probe
- Duterte defense files more motions challenging ICC prosecutor
- AKG chief denies using ‘kidnap’ car for personal purposes
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Israeli forces seize nearly 0,000 in West Bank raid
