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://oiqsix.ycyzqzxyh.com
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.
Go files housing development bill
- Japan prince comes of age as succession crisis looms
- Fears of new political crisis grip France
- Israel tells residents to leave Gaza City ahead of offensive
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- NATIONAL ARTIST'S HOMETOWN
- PH Army showcases disaster response capabilities before Thai defense officials
- US warship heading toward Caribbean Sea
- International media protest over journalist deaths in Gaza
- Manila mayor warns against mobs, orders police to maintain peace and order
- Pump prices increase for 2nd straight week
