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://fyr.aichuwei.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.”
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.
- Australia expels Iran ambassador over antisemitic attacks
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Hope dwindles for survivors days after deadly Afghan quake
- Marcos opens Hyundai's shipyard in PH
- National Guard troops begin carrying weapons in US capital
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Preliminary report on Lisbon funicular accident expected
- Tokyo protests to Beijing over gas field in East China Sea
