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://redcanaco.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.
- 40% of Filipinos are now obese, says Health expert
- Lookout bulletins out vs Atong Ang, Barretto
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- DPWH exec asked lawmaker to make budget insertions — Lacson
- Rubio says US warned France on Israel annexation moves
- NATO members to reach 2% defense spending goal this year
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Israeli forces seize nearly 0,000 in West Bank raid
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
