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.
Go files housing development bill
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.”, This news data comes from:http://gangzhifhm.com
”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.
- Sotto files bill to amend party-list system
- Trump moves to cut more foreign aid, risking shutdown
- 1 of 2 suspects in Pasay robbery, rape arrested
- Comelec to resume BARMM polls ballot printing Thursday
- Discaya names lawmakers in ‘extortion’
- US agents arrest 475 in Hyundai-LG plant raid
- Thai tycoon takes office as PM after royal endorsement
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- ICC wants Garma to testify in Duterte case
- Ballots for oct 13 BARMM polls completed – Comelec
