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://tfujhh.gangzhifhm.com
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
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
- DILG denies claims ex-PNP chief ousted over firearms purchase
- 1 of 2 suspects in Pasay robbery, rape arrested
- Trump wants to meet Norea Korea's Kim again
- DPWH to revisit budget, to complete revisions within 2 weeks
- Nepal to block unregistered social media platforms – govt
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Firefighters arrested by US immigration officials
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Nartatez vows to be fair in making reassignments
