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://ltqu.aichuwei.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Go files housing development bill
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.
- Venezuela builds up border security over US warships
- PNP chief Torre relieved from post — Palace
- MMDA inks deal with DBM for G-3 program
- Nartatez vows fair assignments, better resource management as new PNP chief
- Senate cites former Bulacan assistant district engineer in contempt
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- South Korean President vows support to Koreans arrested in US immigration raid
- LTO summons driver who berated MMDA enforcer
