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://www.xs888999.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
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Protesters storm Discaya compound for second straight day
- China displays its weaponry in a tightly controlled military parade
- US senators to reinforce 'partnership' with Taiwan
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Thousands protest in Nepal over social media ban, corruption
- Legarda pushes Magna Carta of Waste Workers
- Discayas must return money before seeking immunity – Remulla
- Thai top court orders ex-PM Thaksin jailed for one year
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
