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., This news data comes from:http://faat.redcanaco.com
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.”
”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
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- DPWH Secretary Dizon vows to slash 'staggering' P268B flood control budget
- China to bolster non-Western alliances at summit, parade
- Marcos names Dizon as DPWH secretary
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- China 'unstoppable', says Xi with Kim, Putin at his side
- DICT grants amnesty to unregistered delivery firms
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Eala ousts Day, enters Guadalajara Open final
