SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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., This news data comes from:http://www.aichuwei.com
Go files housing development bill
- Comelec upholds cancelation of Duterte Youth registration
- Preliminary report on Lisbon funicular accident expected
- Nepali court: Hindu holy men's nudity not obscene
- Xi meets Modi as China and India seek to rebuild ties
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Quezon City hails directive for national projects to get local permits
- Sotto files bill to amend party-list system
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Support grows for independent probe into flood control projects
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
