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., This news data comes from:http://tdpp.aichuwei.com
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.”
”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.
- Gaza at 'breaking point,' says UN food agency chief after visit
- Group presses DA on delayed fertilizer subsidies
- Pangilinan pushes coordinated water management
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- Go seeks more support for Filipino athletes
- Alice Guo faces new cases over POGO land
- New mining law to balance profit, ecology
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- UK, Japan, South Korea endure hottest summer on record
