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.
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://tibmbs.erlvyiwan.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.
Go files housing development bill
- PH Construction Board asked to address 'accreditation for sale' scandal
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Portugal mourns after Lisbon streetcar accident kills 15
- Israel military says controls 40 percent of Gaza City
- Anti-fake news bill filed anew in House
- No peace without end to hostilities –Arab bloc
- Over 800 killed as quake rocks Afghanistan
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Nartatez rules out 'quota' arrests
- Australia government condemns anti-immigration rally in Sydney
