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.
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., This news data comes from:http://www.yamato-syokunin.com
- Comelec upholds cancelation of Duterte Youth registration
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- 'Large shark' kills man off Sydney beach
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- New DPWH chief Dizon: "A department can't investigate itself"
- Rise in HFMD cases due to better reporting, not outbreak
- Putin lands in Tianjin for summit hosted by China
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Head of main US health agency abruptly dismissed
