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.
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.”
Go files housing development bill, This news data comes from:http://yamato-syokunin.com
”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.
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Comelec to resume BARMM polls ballot printing Thursday
- Putin facing mounting pressure from the West
- Unnamed skeletons? US museum at center of ethical debate
- Taiwan, China locked in historical word war
- PH, Australia, Canada hold joint sea drills
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Mexican boxer Chavez Jr. released from prison pending trial
- Afghan quake death toll surges to over 2,200
- Trump wants to meet Norea Korea's Kim again
