SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.
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., This news data comes from:http://www.gangzhifhm.com
- Housing secretary declares 'zero-tolerance' policy on corruption
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Marcos, first lady visit Cambodia to boost ties
- Escudero says new lease law to make PH more appealing to investors
- Leviste files charges against DPWH engineer who tried to bribe him
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Gaza at 'breaking point,' says UN food agency chief after visit
- SC clarifies rules on land ownership
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
