SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.xs888999.com
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.
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.
- SSS pension reform program starts in September
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Venezuela deploys warships, drones as US destroyers draw near
- Indonesian leader fires ministers of finance and security after deadly protests
- Thai woman jailed for 43 years for lese majeste freed
- Trump moves to end US tariff exemption for small packages
- US warship heading toward Caribbean Sea
- Suspect in 2012 killing of Dutch aid worker freed
- DPWH Secretary Dizon vows to slash 'staggering' P268B flood control budget
- Hontiveros pushes P15,000 salary hike for teachers
