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://www.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.
- Rubio says US warned France on Israel annexation moves
- Cusi charged over Malampaya deal
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Pump prices go up
- ‘Large shark’ kills man off Sydney beach
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Mexican boxer Chavez Jr. released from prison pending trial
- UK's mass facial-recognition roll-out alarms rights groups
- Leviste files charges against DPWH engineer who tried to bribe him
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
