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://www.705-888.com
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.”
”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.
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Tokyo protests to Beijing over gas field in East China Sea
- SEARCH WARRANT
- China 'unstoppable', says Xi with Kim, Putin at his side
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Israel army urges Gaza City residents to leave
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Pakistanis no reprieve from floods yet
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
