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.
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.”, This news data comes from:http://xbp-ig-qd-sgdt.gyglfs.com
Go files housing development bill
”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.
- Need to pee? Japan has QR code for that
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Israeli army: Gaza City now 'a dangerous combat zone'
- Hope dwindles for survivors days after deadly Afghan quake
- Discaya names lawmakers in ‘extortion’
- No peace without end to hostilities –Arab bloc
- Israel ups pressure on Gaza City as Trump talks post-war plan
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Xi and Putin's hot mic moment: How long will science extend the human life span?
