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://ebh.aichuwei.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.
- Rubio says US warned France on Israel annexation moves
- President Marcos launches HD Hyundai Shipyard in Subic
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Estrada, Villanueva tagged in flood control mess, 'SOP was 30%'
- India to probe giant zoo run by son of Asia's richest person
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- BCDA honored for UN sustainable development goals at Manila Times Awards
- DOJ indicts Abra Mining for fraudulent trading
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
