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://vie.jyxingfa.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.
- Epstein victims compiling list of sexual abusers
- Nartatez relieves Fajardo as PNP spokesman
- DPWH told to build evacuation centers
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Xi meets Modi as China and India seek to rebuild ties
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Hontiveros pushes P15,000 salary hike for teachers
- Australia government condemns anti-immigration rally in Sydney
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
