SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://lk.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
- Taiwan, China locked in historical word war
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Marcos expresses support for ‘beleaguered’ Cabinet members
- PH, Japan conduct search and rescue exercises
- La Niña may return but temperatures will remain high, UN says
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Marcos confers diplomatic merit award on two ambassadors
- Israel flattens high-rise as it tells Gaza City residents to flee
- NACC renews appeal: Adopt neglected kids
