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.
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://jyxingfa.com
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.
- Comelec probes 15 contractors for illegal campaign donations
- Duterte lawyer cites failing health, urges return to Philippines after ICC postpones hearing
- Isko files raps over demolition of sports complex
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- ICC wants Garma to testify in Duterte case
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- DPWH told to build evacuation centers
- Gaps in healthcare services remain - study
- Over 800 killed as quake rocks Afghanistan
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
