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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://pkc-txi-bc-vqpj.705-888.com
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.
- Two foreigners face trafficking complaint in Pasay City
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Thailand’s next PM reaffirms fresh polls promise
- India will not 'bow down,' trade minister says after US tariffs
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- 13 massage therapists robbed, 2 cry rape
- Sotto files bill to amend party-list system
