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., This news data comes from:http://www.yamato-syokunin.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.
- Thai woman jailed for 43 years for lese majeste freed
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Roxas matriarch Judy Araneta-Roxas, 91
- 95 IMAGES OF MARY
- Israeli strikes in Yemen's capital kill six, Houthis say
- Former DPWH chief denies links to corruption
- No winner in lotto draws for Aug 30
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Marcos to youth: Help in nation-building
- Scramble for survivors as Afghan earthquake death toll passes 1,400
