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.
Go files housing development bill
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.”, This news data comes from:http://www.jyxingfa.com
”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.
- Palace suspends govt work, classes in several areas due to bad weather
- Putin lands in Tianjin for summit hosted by China
- COA launches sweeping audit of flood control projects
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Open mic caught Xi, Putin discussing immortality
- LTO told to summon 2 DPWH engineers with fake driver’s license
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Nartatez relieves Fajardo as PNP spokesman
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Modi, Ishiba agree to boost economic ties
