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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://www.xs888999.com
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.
- Pope declares 'God's influencer' first millennial saint
- Isko files raps over demolition of sports complex
- Nepali court: Hindu holy men's nudity not obscene
- China's Xi holds talks with North Korea's Kim in Beijing
- Fears of new political crisis grip France
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Ukraine says Russia linked to lawmaker's killing
- Palace hits Discayas over ‘misinformation’ on PH film center project
- CFO office moves from Quezon City to Pasay
- 15 companies vie for 'Sustainability Champions' award
