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.”, This news data comes from:http://www.705-888.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.
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Search for survivors after Afghan earthquake kills 800
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Kris Aquino is alive, says friend amid reports of death
- Manila marks National Heroes Day with job fair
- Firefighters arrested by US immigration officials
- 95 IMAGES OF MARY
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Gomez-Estoesta named court administrator by Supreme Court
- Wildfires producing 'witches' brew' of air pollution – UN
