SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.
Go files housing development bill
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., This news data comes from:http://www.aichuwei.com
- International media protest over journalist deaths in Gaza
- Can a giant seawall save Indonesia's disappearing coast?
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- UK police arrest hundreds in latest Palestine Action demo
- Marcos opens WorldSkills Asean competition
- Denmark summons US envoy over 'attempts to influence' Greenland
- Marcos mum on Magalong joining independent commission for DPWH probe
- Indonesia, US and allies launch joint military drills
