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.”
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., This news data comes from:http://oqo-hxy-cd-bq.xs888999.com
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Australia's mushroom murderer faces victims' family in court
- France seized by fears of new political crisis
- US appeals court blocks Trump's use of wartime law for deportations
- Australia government condemns anti-immigration rally in Sydney
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- No winner in Ultra, Megalotto draws for Aug 29
- A summit and parade in China may signal a geopolitical shift
- PNP chief leads fun run
- Pump prices go up
