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., This news data comes from:http://www.705-888.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.”
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
- Australia's mushroom murderer faces victims' family in court
- 500 Internal Server Error
- VP Sara lauds Filipino heroes
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- House tackles P881B public works budget amid flood control anomalies
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
