SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://sup-hhp-ko-da.052298.com
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.”
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.
- No peace without end to hostilities –Arab bloc
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Marcos wants subpoena power for body investigating flood projects
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Cebu Pacific to launch direct flights between Cebu and Palawan
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- 20 people missing after deadly Indonesia protests
- Thailand acting PM moves to dissolve parliament — party
- New Zealand to allow some wealthy foreign investors onto property market
