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.
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.”, This news data comes from:http://xs888999.com
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.
- North Korea's Kim in China ahead of massive military parade
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Comelec probes 15 contractors for illegal campaign donations
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Macron's decision to recognize Palestinian state angers Israel and the US
- Indonesia turns down ear-splitting 'haram' street parties
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Go Negosyo, CFO push migrant empowerment
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
