SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://pb-tim-tcx-pvqa.gangzhifhm.com
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.”
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.
- Wildfires producing 'witches' brew' of air pollution – UN
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- House holds budget review with 21 civil society organizations
- Supreme Court urged to act on fake complaints
- Van Gogh Museum 'could close' without more help from Dutch govt
- ‘Large shark’ kills man off Sydney beach
- Cebu Pacific to launch direct flights between Cebu and Palawan
- IBP forms committee on good governance to probe corruption
- Head of main US health agency abruptly dismissed
- Passenger with fake Overseas Employment Certificate barred from leaving
