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.
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.”, 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.
- 1 in 4 people lack access to safe drinking water — UN
- MPD announces road closures for Bar exams
- Discaya companies' licenses revoked for bid-rigging
- PH Defense chief slammed for 'bad mouthing' China
- Fire breaks out in Manila residential area
- Modi, Ishiba agree to boost economic ties
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Marcos opens Hyundai's shipyard in PH
- Marcos names Dizon as DPWH secretary
