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., This news data comes from:http://qb.erlvyiwan.com
Go files housing development bill
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.
Go files housing development bill
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Protesters storm Discaya compound for second straight day
- Motive probed for US shooting that killed two children, injured 17
- Inoue says taunts 'missed the target' ahead of world title clash
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- National Guard troops begin carrying weapons in US capital
- China is showing off its weaponry in a tightly controlled military parade
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- IBP to form good governance panel
