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://erlvyiwan.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.”
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.
- Discaya’s construction companies competed against each other during biddings
- Comelec probes 15 contractors for illegal campaign donations
- 'Ondoy'-level rains swamp Quezon City
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- WBO champ looms as Pacquiao’s next opponent
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Co out of country for medical reasons
- LTO summons driver who berated MMDA enforcer
- Quezon City hails directive for national projects to get local permits
