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://otwjtxe.jyxingfa.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.”
Go files housing development bill
”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.
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- Eala writes another historic chapter in Philippine tennis
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- La Niña may return but temperatures will remain high, UN says
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- Lacson clears air over conflict with Marcoleta on flood control probe
- Sen. Go files bills to push health, social, and labor reforms
- 2 Marikina policemen accused of molestation
- National Guard troops begin carrying weapons in US capital
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
