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.
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., This news data comes from:http://imfw-fl-saf-ncpk.052298.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.
- Iran says open to US nuclear talks, rejects missile curbs
- Putin vows not to back down in Ukraine
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Thailand set for vote on new PM after dissolution bid rejected
- Prompt release of educational aids sought
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Marcos names acting Ombudsman
- Wife of Australian man wanted in police killings urges him to surrender
