SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://rws-vu-kr-imf.aichuwei.com
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
- Mexican drug lord faces life in prison after pleading guilty in US court
- No winner in Grand, Megalotto draws for Aug 27
- Epstein victims compiling list of sexual abusers
- MMDA readies for FIVB men’s volleyball
- Marcos names acting Ombudsman
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
- Taiwan: China illegally deploying oil rigs in its waters
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Australia's 'mushroom murderer' handed life in prison with parole
