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.”, This news data comes from:http://ogxg-eerr-bpts-fhy.aichuwei.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.
Go files housing development bill
- Thai tycoon takes office as PM after royal endorsement
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Inoue says taunts 'missed the target' ahead of world title clash
- 95 IMAGES OF MARY
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Marikina City chief of police relieved
- Giovanni Lopez pledges to continue and expand DOTr reforms
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Applicability of zero-balance billing questioned
- No winner in Ultra, Megalotto draws for Aug 29
