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://gx-esxs-kph-ol.erlvyiwan.com
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.
Go files housing development bill
- Indonesia turns down ear-splitting 'haram' street parties
- Taiwan: China illegally deploying oil rigs in its waters
- Can a giant seawall save Indonesia's disappearing coast?
- Comelec probes 15 govt contractors over 2022 election donations
- Searchers retrieve bodies as Afghan quake toll seen to rise
- US agents arrest 475 in Hyundai-LG plant raid
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- No peace without end to hostilities –Arab bloc
- Thailand set for vote on new PM after dissolution bid rejected
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
