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.yamato-syokunin.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.”
”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.
Go files housing development bill
- 'God's Influencer' to become first millennial saint
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Trump moves to cut more foreign aid, risking shutdown
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Guyana votes amid oil boom, Venezuela tensions
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- China 'unstoppable', says Xi with Kim, Putin at his side
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
