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://us-vn-iat-vex.gangzhifhm.com
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.
- Pasig Mayor Vico Sotto attends House flood control probe
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Legarda pushes Magna Carta of Waste Workers
- Seoul says over 300 South Koreans held in US battery plant site raid
- Bonoan freezes DPWH travel passes
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Need a pee? Japan has QR code for that
- DFA: No US extradition request for Quiboloy
