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., This news data comes from:http://gangzhifhm.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.”
Go files housing development bill
”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.
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- 'Mockery of science': US experts blast Trump climate report
- Israel launches new spy satellite in 'message' to enemies
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Lacson: Torre 'acted beyond his authority'
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Manila marks National Heroes Day with job fair
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
