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://erlvyiwan.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.
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
- Comelec upholds cancelation of Duterte Youth registration
- Marcos signs mining tax regime law
- Afghanistan earthquake kills more than 800
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Navotas inks deal for school feeding project
- Seoul says over 300 South Koreans held in US battery plant site raid
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- DMW: 19 distressed OFWs return home from Jeddah
- Anutin elected as Thailand's new prime minister
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
