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
”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., This news data comes from:http://www.xs888999.com
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Xi and Putin round on West at regional summit in China
- Trump says he wants to meet North Korea's Kim again
- WBO champ looms as Pacquiao’s next opponent
- Trump health misinformation swirls despite denial
- DSWD program reduced hunger
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- DFA: No US extradition request for Quiboloy
- No winner in lotto draws for Aug 28
- Hontiveros pushes P15,000 salary hike for teachers
