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, This news data comes from:http://cwjh.xs888999.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.
- Villanueva: Regularize contractual govt workers
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Indonesia's delayed new capital risks 'white elephant' status
- PH has chance of getting UNSC seat - Manalo
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Budget shortfall narrows in July
- Marcos suspends importation of regular, well-milled rice for 60 days
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Estrada, Villanueva tagged in House flood control mess, says 'SOP was 30%'
