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., This news data comes from:http://www.yamato-syokunin.com
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.
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- NHA gives cash aid to families affected by calamity in Manila
- Prompt release of educational aids sought
- N. Korea test-fires two 'new' air defense missiles
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Trump wants to meet Norea Korea's Kim again
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- PH Defense chief slammed for 'bad mouthing' China
- South Korean prosecutors indict Yoon's wife, former PM
- 'Ondoy'-level rains swamp Quezon City
