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://mtd-nxlh-sq-slt.aichuwei.com
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.
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
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Bolsonaro verdict looms as Brazil coup trial closes
- DPWH Secretary Dizon vows to slash 'staggering' P268B flood control budget
- Two foreigners face trafficking complaint in Pasay City
- Police brutality fuels soaring tensions in Indonesia
- Legarda pushes Magna Carta of Waste Workers
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Trump says he wants to meet North Korea's Kim again
- Tourists dice with danger on Hanoi's train street
