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.
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.”, This news data comes from:http://gangzhifhm.com
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.
- Nartatez vows fair assignments, better resource management as new PNP chief
- Lacson clears air over conflict with Marcoleta on flood control probe
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Wildfires producing 'witches' brew' of air pollution – UN
- DOJ indicts Abra Mining for fraudulent trading
- Discaya says her family owns nine companies
- Thai court to rule on PM's fate after Hun Sen call leak
- Labubu fans flock to stores after launch of mini dolls
- Indonesia, US and allies launch joint military drills
