SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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
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://redcanaco.com
Go files housing development bill
”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.
- South Korea to ban mobile phones in school classrooms
- Lacson clears air over conflict with Marcoleta on flood control probe
- LTO summons driver who berated MMDA enforcer
- Marcos signs laws creating more court branches
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- Malabon City honors partners
- PH eyes global partners in biggest railway project
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
