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://www.jyxingfa.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.”
”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
- UK's mass facial-recognition roll-out alarms rights groups
- Classes suspended in 10 Metro Manila cities due to rains
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- DICT grants amnesty to unregistered delivery firms
- Court rules on subdivision open spaces, road lots
- Israeli forces seize nearly 0,000 in West Bank raid
- New law lets foreigner investors lease land for 99 years
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
