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.
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://oma.xs888999.com
- DPWH told to build evacuation centers
- DPWH to revisit budget, to complete revisions within 2 weeks
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Bonoan freezes DPWH travel passes
- 100K Pakistanis flee amid flood threat
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Comelec upholds cancelation of Duterte Youth registration
- Israel expects 1 million Gazans to flee new offensive
- Two dead as strong earthquake jolts Afghanistan
- Customs officials, employees who aided Discayas will not be spared — Customs chief
