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.
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., This news data comes from:http://xvfb.erlvyiwan.com
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.
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- New law lets foreigner investors lease land for 99 years
- Drones take on Everest's garbage
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- MMDA prepares for PH hosting of FIVB
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
