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., This news data comes from:http://www.gyglfs.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.”
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.
- Wildfires producing 'witches' brew' of air pollution – UN
- 'Pink and green' protests call for a reset in Indonesia
- Australia halts logging for koala haven on eastern coast
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- CFO moves office from QC to Pasay
- Thai court to rule on PM's fate after Hun Sen call leak
- Pump prices go up
- WBO champ looms as Pacquiao’s next opponent
- Hontiveros pushes P15,000 salary hike for teachers
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
