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.705-888.com
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.”
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.
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Venezuela builds up border security over US warships
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Wife of Australian man wanted in police killings urges him to surrender
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Motive probed for US church shooting that killed 2 children, injured 17
