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.”
”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://xudl-ac-cpbt-plco.aichuwei.com
Go files housing development bill
- Comelec to resume BARMM polls ballot printing Thursday
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Marikina City chief of police relieved
- 100K Pakistanis flee amid flood threat
- Angkas supports DICT's amnesty program for unregistered delivery services
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Trump says he wants to meet North Korea's Kim again
- US senators to reinforce 'partnership' with Taiwan
- Thailand set for vote on new PM after dissolution bid rejected
- Russian drone, missile attack kills 14, injured 48 in Kyiv
