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.
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., This news data comes from:http://nk-sqk-aa-bynk.jyxingfa.com
- US warship heading toward Caribbean Sea
- 1.2K pass Electrical Engineers exam
- Van Gogh Museum 'could close' without more help from Dutch govt
- Two dead as strong earthquake jolts Afghanistan
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- PH to see ‘blood moon’ Sept. 7-8
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Peace efforts in limbo as Kyiv mourns 23 dead
