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.
Go files housing development bill
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.”
”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://erlvyiwan.com
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- 'No way' US troops can invade Venezuela, says Maduro
- Putin facing mounting pressure from the West
- Nartatez relieves Fajardo as PNP spokesman
- Trump wants to meet Norea Korea's Kim again
- Police officers face more charges in missing cockfight enthusiasts case
- Motive probed for US church shooting that killed 2 children, injured 17
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Two dead as strong earthquake jolts Afghanistan
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
