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://kvprlj.aichuwei.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.”
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.
- India to develop fighter jet engines with French company
- Palace rejects China's 'troublemaker' tag
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Makati earns high rating in anti-trafficking and violence assessment
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Putin and Modi in China for summit hosted by Xi
- Marcos orders lifestyle checks on all government officials amid flood control probe
