SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens., This news data comes from:http://jyxingfa.com
Go files housing development bill
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.”
”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.
- LTO told to summon 2 DPWH engineers with fake driver’s license
- 'Mockery of science': US experts blast Trump climate report
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Van Gogh Museum 'could close' without more help from Dutch govt
- Philippines to launch shame campaign vs traffic violators
- Marcos to youth: Help in nation-building
- SpaceX cancels Starship megarocket launch in latest setback
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Venezuela deploys warships, drones as US destroyers draw near
- Comelec defers BARMM district reconstitution
