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://www.gangzhifhm.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.
- Dizon to order DPWH officials to submit courtesy resignation
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Indonesia leader orders investigation into driver's protest death
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- DFA: No US extradition request for Quiboloy
- Vico Sotto's viral post sparks ethics debate, elicits response from journalists
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Comelec defers reconstitution of BARMM parliamentary districts
- Bonoan resigns, Dizon named DPWH chief
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
