SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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://www.aichuwei.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.
- Manila mayor warns against mobs, orders police to maintain peace and order
- Escudero says new lease law to make PH more appealing to investors
- Japan govt seeks to triple spending on drones
- Trump rebrands Department of Defense as 'Department of War'
- Australia halts logging for koala haven on eastern coast
- Putin threatens to target Western troops in Ukraine
- Need a pee? Japan has QR code for that
- President asks governor to expose irregularities in govt projects
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
