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., This news data comes from:http://ycwa-wxop-akbc-ul.ycyzqzxyh.com
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.
- DPWH engineer in bribery scandal placed under preventive suspension
- Protesters storm Discaya compound for second straight day
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Gasoline, diesel prices to increase again next week
- New Zealand to allow some wealthy foreign investors onto property market
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Thai court to rule on PM's fate after Hun Sen call leak
- Police officers face more charges in missing cockfight enthusiasts case
