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://erlvyiwan.com
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.
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.
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Bonoan resigned due to command responsibility — Marcos
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Fair weather in PH except for isolated downpours — Pagasa
- House tackles P881B public works budget amid flood control anomalies
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Four children killed by parents in Dominican Republic — police
