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., This news data comes from:http://www.gyglfs.com
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.
Go files housing development bill
- 13 massage therapists robbed, 2 cry rape
- Mexican drug lord faces life in prison after pleading guilty in US court
- Filipino fulfills dream of performing with K-pop group before home fans
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- 'New' position being offered to Torre — Palace
- Mass housing developers laud Pag-IBIG Fund
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Epstein victims compiling list of sexual abusers
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
