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.
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., This news data comes from:http://cjams.xs888999.com
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- MMDA readies for FIVB men’s volleyball
- Israel expects 1 million Gazans to flee new offensive
- 2 Marikina policemen accused of molestation
- Japan prince comes of age as succession crisis looms
- BuCor chief calls for major reforms
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Comelec defers BARMM district reconstitution
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Tax bureau hunts down contractors over questionable flood control deals
