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://jyxingfa.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.”
Go files housing development bill
”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.
- Oil firms to raise fuel prices this week
- No winner in lotto draws for Aug 30
- AboitizPower pushes growth with clean, renewable energy
- Prompt release of educational aids sought
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Unnamed skeletons? US museum at center of ethical debate
- Comelec upholds cancelation of Duterte Youth registration
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Mandela grandson says he will join Gaza aid boat
