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://pa-vydk-cfi-sd.erlvyiwan.com
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.
Go files housing development bill
- Immigration deports 49 South Korean fugitives
- Two foreigners face trafficking complaint in Pasay City
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Thai Court: PM Shinawatra violated ethics rules
- Thai woman jailed for 43 years for lese majeste freed
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Customs recovers 10 more Discaya luxury cars
- Trump tells Europe to put economic pressure on China over Ukraine
- Marcos, first lady visit Cambodia to boost ties
