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.
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, This news data comes from:http://awme.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.
- AI, thinner iPhones likely stars of Apple 'Awe Dropping' event
- 'New' position being offered to Torre — Palace
- 1 of 2 suspects in Pasay robbery, rape arrested
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Inflation up 1.5% in August
- ‘40% of Filipinos obese’
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Need a pee? Japan has QR code for that
- Kris Aquino is alive, says friend amid reports of death
- Thai woman jailed for 43 years for lese majeste freed
