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://gsvd.redcanaco.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.”
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.
- Rubio says US warned France on Israel annexation moves
- Australia's mushroom murderer faces victims' family in court
- Trump stamps 'dictator chic' on Washington
- Xi says China 'unstoppable' in parade opening speech
- DILG suspends classes, gov’t work in 17 areas
- DOJ indicts Abra Mining for fraudulent trading
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Roxas matriarch, 91
- Duterte’s defense team outlines ICC strategy
- SSS pension reform program starts in September
