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://nvd-wrmx-ss-vyih.redcanaco.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.
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.
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Palace rejects China's 'troublemaker' tag
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Hope dwindles for survivors days after deadly Afghan quake
- South Korean women sue US military in landmark prostitution lawsuit
- DFA: No US extradition request for Quiboloy
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Wife of Australian man wanted in police killings urges him to surrender
- Gasoline, diesel prices to increase again next week
- MPD announces road closures for Bar exams
