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.
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.”, This news data comes from:http://dwyonijp.jyxingfa.com
”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.
- Former DPWH chief denies links to corruption
- 1 in 4 people lack access to safe drinking water — UN
- Indonesian police officer fired over killing that sparked protests
- Lacson to govt: Protect education budget
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- WBO champ looms as Pacquiao’s next opponent
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- 'Strangest' dinosaur covered in spiked armory – scientists
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Sotto files bill to amend party-list system
