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.
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., This news data comes from:http://glwcocu.ycyzqzxyh.com
- Pump prices increase for 2nd straight week
- Japan accelerates missile deployment amid rising regional tensions
- WorldSkills Asean Manila begins
- COA launches sweeping audit of flood control projects
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Putin meets Kim, praises North Korean troops in Russia
- ‘Large shark’ kills man off Sydney beach
- 'Blood Moon' to rise during total lunar eclipse Sunday night
