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://lwfonuuq.xs888999.com
Go files housing development bill
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.”
”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.
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- 'Perfect storm': UK fishermen reel from octopus invasion
- New mining law to balance profit, ecology
- Lacson clears air over conflict with Marcoleta on flood control probe
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Venezuela deploys warships, drones as US destroyers draw near
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
