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://lvlvx.yamato-syokunin.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
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.”
”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.
- Putin vows not to back down in Ukraine
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Classes suspended in 10 Metro Manila cities due to rains
- New judge to handle Dengvaxia cases named; hearing set
- Legarda pushes Magna Carta of Waste Workers
- Xi says China 'unstoppable' in parade opening speech
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Seoul says over 300 South Koreans held in US battery plant site raid
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- NATO members to reach 2% defense spending goal this year
