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.jyxingfa.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.
Go files housing development bill
- Trump to blacklist countries for imprisoning Americans
- 1.2K pass Electrical Engineers exam
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- La Niña may return but temperatures will remain high, UN says
- IBP to form good governance panel
- 1 of 2 suspects in Pasay robbery, rape arrested
- ‘Gomez ignorant of how media works’
- N. Korea test-fires two 'new' air defense missiles
- Duterte defense files more motions challenging ICC prosecutor
- Japan PM Ishiba bounces back in polls after election debacle
