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, This news data comes from:http://bxiaury.gangzhifhm.com
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.
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.”
Go files housing development bill
”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.
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Hope dwindles for survivors days after deadly Afghan quake
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- ChatGPT to get parental controls after teen's death
- Modi: India, Japan to 'shape the Asian century'
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- 'Strangest' dinosaur covered in spiked armory – scientists
- Former PNP chief Torre III offered new government post
- Indonesia leader orders investigation into driver's protest death
