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., This news data comes from:http://ycyzqzxyh.com
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.
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.
- Isko files raps over demolition of sports complex
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Recto: No exemption for US tech firms from digital tax
- Pump prices go up
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Search for survivors after Afghan earthquake kills 800
- Kneecap to play Paris concert in defiance of objections
- Go files housing development bill
- Marcos soon to create commission to probe flood control projects
- Nartatez rules out 'quota' arrests
