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://jyxingfa.com
Go files housing development bill
- Workers urge Marcos to stop corruption by banning political dynasties
- Prince Harry to visit UK on anniversary of queen's death
- Trump hails Department of War rebrand as 'message of victory'
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Go files housing development bill
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Govt debt swells to record P17.58T
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Read to reduce sentence, Uzbekistan tells prisoners
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
