SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.
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.”, This news data comes from:http://aichuwei.com
”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.
- Customs preparing report on Discayas’ 28 luxury cars
- Makati earns high rating in anti-trafficking and violence assessment
- National Guard troops begin carrying weapons in US capital
- Gomez-Estoesta named court administrator by Supreme Court
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Laws signed on holidays, court branches
- Marcos suspends importation of regular, well-milled rice for 60 days
- Marcos opens Hyundai's shipyard in PH
- Comelec defers reconstitution of BARMM parliamentary districts
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
