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://gka.aichuwei.com
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.
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.
- Unnamed skeletons? US museum at center of ethical debate
- Private groups back DHSUD chief's anti-corruption policy
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- AKG chief denies using ‘kidnap’ car for personal purposes
- Filipinos see blockchain as key to ending corruption, support bill filed in Senate — survey
- Putin and Modi in China for summit hosted by Xi
- Comelec defers reconstitution of BARMM parliamentary districts
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- US senators to reinforce 'partnership' with Taiwan
- LTO told to summon 2 DPWH engineers with fake driver’s license
