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., This news data comes from:http://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.”
”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
- Unnamed skeletons? US museum at center of ethical debate
- Marcos lauds Alex Eala’s win in Guadalajara
- Maduro calls for dialogue hours after Trump’s threat
- Trump hails Department of War rebrand as 'message of victory'
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- LPA affects Metro Manila, Mindanao, Visayas
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Isko files raps over demolition of sports complex
- SC orders comment on petitions vs polls
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
