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.”
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., This news data comes from:http://dwkk.erlvyiwan.com
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Trump hails Department of War rebrand as 'message of victory'
- MMDA readies for FIVB men’s volleyball
- Court rules on subdivision open spaces, road lots
- DPWH told to build evacuation centers
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- No winner in lotto draws for Aug 28
- Palace suspends govt work, classes in several areas due to bad weather
- 102-year-old becomes oldest person to summit Mount Fuji
