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://www.yamato-syokunin.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.
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Washington makes military aid overtures to Sahel juntas
- GoTyme gives customers 20 free InstaPay transfers per month
- Iran says open to US nuclear talks, rejects missile curbs
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Palace to Discayas: Prove allegations
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
