SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://fvid-hnxb-ld-lxq.xs888999.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.
Go files housing development bill
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.
- Housing secretary declares 'zero-tolerance' policy on corruption
- Australia's mushroom murderer faces victims' family in court
- Marcos names Dizon as DPWH secretary
- Trump wants to meet Norea Korea's Kim again
- Marcos signs law giving 99-year land lease to foreign investors
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- A summit and parade in China may signal a geopolitical shift
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Pagasa sees two to four tropical cyclones hitting Philippines in September
