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.”
Go files housing development bill, This news data comes from:http://www.ycyzqzxyh.com
”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.
- 95 IMAGES OF MARY
- India to probe giant zoo run by son of Asia's richest person
- AKG chief denies using ‘kidnap’ car for personal purposes
- 2 Marikina policemen accused of molestation
- Legarda pushes Magna Carta of Waste Workers
- Pump prices go up
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Pagasa monitors LPA off Cavite, may still become tropical depression
- CBCP president urges Israel to stop military operations in Gaza
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
