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://ocxx.erlvyiwan.com
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.
- Police brutality fuels soaring tensions in Indonesia
- Former DPWH chief denies links to corruption
- Gasoline, diesel price hikes seen next week
- Navotas holds anti-plastic drive
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Thailand’s next PM reaffirms fresh polls promise
- DILG denies allegations that PNP chief fired over firearms deal
- Tourists dice with danger on Hanoi's train street
- Sen. Bong Go files bill for better health worker protection, benefits
