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.
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.”, This news data comes from:http://www.jyxingfa.com
”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.
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Gaza at 'breaking point,' says UN food agency chief after visit
- 2 Marikina policemen accused of molestation
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Appointments panel holds first session
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Marcos signs mining tax regime law
- Wildfires producing 'witches' brew' of air pollution – UN
