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://www.xs888999.com
Go files housing development bill
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.
- Malabon averts crisis with garbage deal
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Trump escalates crackdown threats with Chicago 'war' warning
- Putin facing mounting pressure from the West
- PH has chance of getting UNSC seat - Manalo
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- 'Pink and green' protests call for a reset in Indonesia
- US senators to reinforce 'partnership' with Taiwan
- Roxas matriarch, 91
- Marcos to attend UN meet in New York in Sept- Palace
