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://shns.jyxingfa.com
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.
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Motive probed for US shooting that killed two children, injured 17
- Housing secretary declares 'zero-tolerance' policy on corruption
- Nartatez vows to be fair in making reassignments
- DOJ indicts Abra Mining for fraudulent trading
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Public Works chief to press criminal charges against Bulacan engineer
- Venezuela deploys warships, drones as US destroyers draw near
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Marcos urged to raise WPS resolution at UN
