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://bebq-tohk-ww-pt.gyglfs.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.
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Task force cites new threats to media workers
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- House starts flood control probe
- Australia's 'mushroom murderer' handed life in prison with parole
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- MPD announces road closures for Bar exams
- 'Perfect storm': UK fishermen reel from octopus invasion
- DPWH engineer in bribery scandal placed under preventive suspension
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
