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.
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://ucwadgvc.705-888.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.
Go files housing development bill
- BCDA honored for UN sustainable development goals at Manila Times Awards
- Tokyo protests to Beijing over gas field in East China Sea
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- 13 massage therapists robbed, 2 cry rape
- DPWH exec fired, 2 others face dismissal over flood control mess
- Thailand acting PM moves to dissolve parliament — party
- 500 Internal Server Error
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Can a giant seawall save Indonesia's disappearing coast?
