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.”
”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://oab-vwox-qc-vqnc.jyxingfa.com
Go files housing development bill
- Thai woman jailed for 43 years for lese majeste freed
- Protesters storm Discaya compound, Sotto calls for calm
- Trump moves to cut more foreign aid, risking shutdown
- AKG chief denies using ‘kidnap’ car for personal purposes
- Discaya companies' licenses revoked for bid-rigging
- 102-year-old becomes oldest person to summit Mount Fuji
- Thai cannabis-championing tycoon takes office as PM
- House justice panel to probe US' extradition request for Quiboloy
- Comelec to resume BARMM polls ballot printing Thursday
- DOST, SM Supermalls partner to empower businesses with sustainable practices
