SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.yamato-syokunin.com
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.”
”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.
- Marcos signs laws creating more court branches
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- ALPAS Consultancy bags five awards in Philippine Quill debut
- 'God's Influencer' to become first millennial saint
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Marcos soon to create commission to probe flood control projects
- Appointments panel holds first session
- House justice panel to probe US' extradition request for Quiboloy
- Sara favors punishing officials, lifestyle checks
