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, This news data comes from:http://yamato-syokunin.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.”
”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.
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- China to bolster non-Western alliances at summit, parade
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Marcos, first lady visit Cambodia to boost ties
- AboitizPower pushes growth with clean, renewable energy
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
