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.”
”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., This news data comes from:http://www.yamato-syokunin.com
Go files housing development bill
- Israel army urges Gaza City residents to leave
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Kris Aquino is alive, says friend amid reports of death
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- New law lets foreigner investors lease land for 99 years
- PH Construction Board asked to address 'accreditation for sale' scandal
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Trump to blacklist countries for imprisoning Americans
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
