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.
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., This news data comes from:http://aichuwei.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.”
”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.
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Gloria Arroyo files bill to empower Office of the Vice President
- Eala ousts Day, enters Guadalajara Open final
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Drug war victims’ groups slam postponement of ICC hearing on Duterte
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Victims decry ICC's postponement of Duterte's trial
- 11 foreigners killed in Portugal funicular crash
