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://lp.xs888999.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.”
”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
- Japan accelerates missile deployment amid rising regional tensions
- Portugal mourns after Lisbon streetcar accident kills 15
- Bersamin letter proves Torre reassignments ‘valid’
- Nartatez vows fair assignments, better resource management as new PNP chief
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Mexican boxer Chavez Jr. released from prison pending trial
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- National Guard troops begin carrying weapons in US capital
- DICT grants amnesty to unregistered delivery firms
- Drug war whistleblower Royina Garma returns to PH after US detention
