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.
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.”
”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://iacabufj.052298.com
- 'Strangest' dinosaur covered in spiked armory – scientists
- COA launches sweeping audit of flood control projects
- New Zealand to allow some wealthy foreign investors onto property market
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Thailand's Parliament to vote Friday for a new prime minister
- House resumes budget briefings
- Hope dwindles for survivors days after deadly Afghan quake
- SEARCH WARRANT
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- CBCP president urges Israel to stop military operations in Gaza
