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://ot.gangzhifhm.com
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.
- SSS rolls out historic pension reform program
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Russia hits seat of Ukraine government in war's biggest air attack
- Court rules on subdivision open spaces, road lots
- 4 policemen linked to sabungero case slapped with more administrative cases
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Kris Aquino is alive, says friend amid reports of death
- Sarah Discaya grilled by Senate over alleged DPWH links
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
