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, This news data comes from:http://www.gyglfs.com
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
”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.
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Bersamin letter proves Torre reassignments ‘valid’
- Marcos opens WorldSkills Asean competition
- India will not 'bow down,' trade minister says after US tariffs
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Gasoline, diesel price hikes seen next week
- Government work, classes on Tuesday suspended due to bad weather
- 15 companies vie for 'Sustainability Champions' award
