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.”, This news data comes from:http://tv-bq-myk-rv.gyglfs.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
- Harold Cabreros takes post as new OCD chief
- Discaya says her family owns nine companies
- AboitizPower pushes growth with clean, renewable energy
- Immigration deports 49 South Korean fugitives
- Putin and Modi in China for summit hosted by Xi
- Thai cannabis-championing tycoon takes office as PM
- Sen. Go files bills to push health, social, and labor reforms
- Kris Aquino is alive, says friend amid reports of death
- Budget shortfall narrows in July
- Lacson: Daughter of former DPWH secretary Manuel Bonoan co-owns construction firm
