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://gangzhifhm.com
Go files housing development bill
- Trump stamps 'dictator chic' on Washington
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Wildfires producing 'witches' brew' of air pollution – UN
- Marcos confers diplomatic merit award on two ambassadors
- Marcos lauds Alex Eala’s win in Guadalajara
- Trump hails Department of War rebrand as 'message of victory'
- Magnitude 5.1 earthquake rattles Surigao del Sur
- Wildfire tears through California gold rush town
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Palace hits Discayas over ‘misinformation’ on PH film center project
