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.
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.”
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., This news data comes from:http://opkb-bhub-ir-ew.yamato-syokunin.com
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Israel launches new spy satellite in 'message' to enemies
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Trump health misinformation swirls despite denial
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Gloria Arroyo files bill to empower Office of the Vice President
- French parliament set to eject PM in blow to Macron
- New mining law to balance profit, ecology
