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., This news data comes from:http://bpxb-eluw-emn-bkee.redcanaco.com
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.
Go files housing development bill
- Australia halts logging for koala haven on eastern coast
- Eala writes another historic chapter in Philippine tennis
- EU massive fine against Google draws Trump threat
- Trump move to cut more foreign aid risking shutdown
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- DOJ indicts Abra Mining for fraudulent trading
- Tokyo protests to Beijing over gas field in East China Sea
- Court rules on subdivision open spaces, road lots
