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://tpugf.jyxingfa.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
- PH to host seafarers’ welfare forum
- FBI raids home of Trump critic, former adviser
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Former Bulacan district engineer admits going to casinos
- Read to reduce sentence, Uzbekistan tells prisoners
- New mining law to balance profit, ecology
- Pakistanis no reprieve from floods yet
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
