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.
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://www.jyxingfa.com
Go files housing development bill
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- House resolution filed to investigate 'funders' of anomalous projects
- Epstein victims compiling list of sexual abusers
- Transport chief pushes shame campaign vs errant motorists
- Indonesia leader orders investigation into driver's protest death
- Lacson to govt: Protect education budget
- Russia hits seat of Ukraine government in war's biggest air attack
- Marcos names Dizon as DPWH secretary
- Japan PM decides to quit as opponents seek leadership election
