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, This news data comes from:http://ovyx.aichuwei.com
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.
Go files housing development bill
- Thailand ruling party moves to dissolve parliament
- New law lets foreigner investors lease land for 99 years
- 95 IMAGES OF MARY
- South Korea to ban mobile phones in school classrooms
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Pasig police prepare charges vs protesters
- Lacson: Torre 'acted beyond his authority'
- Tariffs, migration and cartels will top Rubio's talks in Mexico and Ecuador this week
- Sara favors punishing officials, lifestyle checks
