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://ddxjsm.jyxingfa.com
Go files housing development bill
- Go Negosyo, CFO push migrant empowerment
- NACC renews appeal: Adopt neglected kids
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Islamic State claims deadly attack on Pakistan rally
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Bishops demand broad probe into flood project corruption
- Tokyo protests to Beijing over gas field in East China Sea
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
