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.
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., This news data comes from:http://gangzhifhm.com
Go files housing development bill
- Afghanistan earthquake kills more than 800
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Customs recovers 10 more Discaya luxury cars
- 15 drug war victims cleared to join Duterte's ICC case
- SC orders comment on petitions vs polls
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Co out of country for medical reasons
- White House fires US health agency head after she refused to quit
- Australia government condemns anti-immigration rally in Sydney
- President Marcos to attend 80th UN General Assembly in New York
