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://bkyf.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.
- Taiwan, China locked in historical word war
- Japan PM decides to quit as opponents seek leadership election
- Gloria Arroyo files bill to empower Office of the Vice President
- Former PNP chief Torre III offered new government post
- Search for survivors after Afghan earthquake kills 800
- Former DPWH chief denies links to corruption
- US appeals court finds Trump's global tariffs illegal
- Lacson clears air over conflict with Marcoleta on flood control probe
- La Niña may return but temperatures will remain high, UN says
- Argentina hunts Nazi-looted painting revealed in property ad
