SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://xcu-yjy-ww-rsj.erlvyiwan.com
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.
Go files housing development bill
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Rubio says US warned France on Israel annexation moves
- Modi: India, Japan to 'shape the Asian century'
- 4 policemen linked to sabungero case slapped with more administrative cases
- COA launches sweeping audit of flood control projects
- 2 Marikina policemen accused of molestation
- Sotto files bill to amend party-list system
- DILG suspends classes, gov’t work in 17 areas
- Putin lands in Tianjin for summit hosted by China
- MPD announces road closures for Bar exams
