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://jx.gangzhifhm.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.
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Hontiveros pushes P15,000 salary hike for teachers
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Read to reduce sentence, Uzbekistan tells prisoners
- Angkas supports DICT's amnesty program for unregistered delivery services
- Xi says China 'unstoppable' in parade opening speech
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
