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.
Go files housing development bill
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.”, This news data comes from:http://redcanaco.com
”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.
- EU massive fine against Google draws Trump’s ire
- Tourists dice with danger on Hanoi's train street
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- China is showing off its weaponry in a tightly controlled military parade
- Macron appoints Defense Minister Lecornu as France's latest prime minister
- Sen. Go files bills to push health, social, and labor reforms
- Makati earns high rating in anti-trafficking and violence assessment
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- DBP to be honored at inaugural Manila Times Sustainability Awards
- No winner in lotto draws for Aug 30
