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., This news data comes from:http://nmsihj.gangzhifhm.com
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.
- Gasoline, diesel prices to increase by P1 next week
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Read to reduce sentence, Uzbekistan tells prisoners
- Private groups back DHSUD chief's anti-corruption policy
- Pasig fire kills child, injures mother as she tries to save him
- Follow the trucks: Why investors are looking south of Metro Manila
- US Spirit Airlines files for bankruptcy again
- Nepali court: Hindu holy men's nudity not obscene
- Lacson warns lawmakers may be complicit in ghost flood control projects
- South Korean prosecutors indict Yoon's wife, former PM
