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://wwe.jyxingfa.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.
- DBP launches P50M program for education
- President asks governor to expose irregularities in govt projects
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Pacifist Japan struggles to boost troops as China anxiety grows
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Australia halts logging for koala haven on eastern coast
- Earthquake kills 250, injures 500 in Afghanistan
- Prince Harry to visit UK on anniversary of queen's death
