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://fijs.jyxingfa.com
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.
- Duterte’s defense team outlines ICC strategy
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Need a pee? Japan has QR code for that
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- 11 foreigners killed in Portugal funicular crash
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Japan accelerates missile deployment amid rising regional tensions
- 15 companies vie for 'Sustainability Champions' award
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
