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.jyxingfa.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.
- 'God's Influencer' to become first millennial saint
- Marikina City chief of police relieved
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Woman accused of murdering her children faces New Zealand trial
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Marcos to attend UN meet in New York in Sept- Palace
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- DOST, SM Supermalls partner to empower businesses with sustainable practices
