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://www.ycyzqzxyh.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.”
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.
- Puno seeks probe of anomalous projects ‘funders’
- Bolsonaro verdict looms as Brazil coup trial closes
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Immigration deports 49 South Korean fugitives
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- DPWH exec fired, 2 others face dismissal over flood control mess
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Israeli forces seize nearly 0,000 in West Bank raid
- Social pension eyed for indigent seniors
