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.
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.
Go files housing development bill, This news data comes from:http://www.aichuwei.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.
- Gaps in healthcare services remain - study
- Former Bulacan district engineer admits going to casinos
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Escudero says new lease law to make PH more appealing to investors
- Israel expects 1 million Gazans to flee new offensive
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Hope dwindles for survivors days after deadly Afghan quake
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Marcos suspends importation of regular, well-milled rice for 60 days
