SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://www.jyxingfa.com
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.
- Thai tycoon takes office as PM after royal endorsement
- Indonesian leader fires ministers of finance and security after deadly protests
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Makati distributes Blu Card cash aid
- 4 policemen linked to sabungero case slapped with more administrative cases
- House justice panel to probe US' extradition request for Quiboloy
- Marcos confers diplomatic merit award on two ambassadors
- Marcos names Dizon as DPWH secretary
- NBI starts own inquiry of DPWH contracts
- Hope dwindles for survivors days after deadly Afghan quake
