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://ayafli.jyxingfa.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.
- 1 in 4 people lack access to safe drinking water — UN
- Gaps in healthcare services remain - study
- Rise in HFMD cases due to better reporting, not outbreak
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- A summit and parade in China may signal a geopolitical shift
- SEARCH WARRANT
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- DPWH exec asked lawmaker to make budget insertions — Lacson
- Suspect in 2012 killing of Dutch aid worker freed
