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://ycyzqzxyh.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.
- Putin meets Kim, praises North Korean troops in Russia
- DPWH engineer in bribery scandal placed under preventive suspension
- Putin vows not to back down in Ukraine
- US church shooter 'obsessed with idea of killing children'
- LPA east of Surigao del Sur may intensify into tropical depression
- Suspect in 2012 killing of Dutch aid worker freed
- 4 policemen linked to sabungero case slapped with more administrative cases
- Bonoan freezes DPWH travel passes
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- 1 of 2 suspects in Pasay robbery, rape arrested
