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.
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.”
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., This news data comes from:http://gangzhifhm.com
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Pope Leo: We must listen first before speaking
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Over 800 killed as quake rocks Afghanistan
- Made in China? The remarkable tale of Venice's iconic winged lion
- LTO summons driver who berated enforcer
- Marcos signs laws creating more court branches
- Navotas inks deal for school feeding project
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
