SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://pfgy-wca-hp-jr.705-888.com
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.”
Go files housing development bill
”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.
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- MMDA prepares for PH hosting of FIVB
- South Korea to ban mobile phones in school classrooms
- Israel launches new spy satellite in 'message' to enemies
- 'Large shark' kills man off Sydney beach
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Made in China? The remarkable tale of Venice's iconic winged lion
- Kris Aquino is alive, says friend amid reports of death
- National Guard troops begin carrying weapons in US capital
- Supreme Court: It’s work as usual in judiciary
