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., This news data comes from:http://jedh-ndf-cehr-fdr.gyglfs.com
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.
Go files housing development bill
- NACC renews appeal: Adopt neglected kids
- Mandela grandson says he will join Gaza aid boat
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- ERC amends net-metering rules to expand renewable energy options
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- LPA may still develop into short-lived tropical cyclone
- Thai opposition's kingmaking summit fails to back new PM
- Globe: Mobile data helps drive national progress
- Immigration deports 49 South Korean fugitives
- Lacson to govt: Protect education budget
