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://redcanaco.com
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.
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.
- Firefighters arrested by US immigration officials
- Bonoan freezes DPWH travel passes
- Fire breaks out in Manila residential area
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Marcos signs laws declaring holidays across PH
- DSWD's guarantee letters now accepted in more establishments
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Indonesia's delayed new capital risks 'white elephant' status
