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.
Go files housing development bill
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://aichuwei.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.
- Japan PM Ishiba bounces back in polls after election debacle
- DILG suspends classes, gov’t work in 17 areas
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Duterte lawyers take aim at ICC prosecutor
- Police brutality fuels soaring tensions in Indonesia
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- 4 policemen linked to sabungero case slapped with more administrative cases
- New Zealand to allow some wealthy foreign investors onto property market
- Australia to tackle deepfake nudes, online stalking
