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.gangzhifhm.com
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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.
- SpaceX scrubs latest Starship launch due to bad weather
- Bonoan resigns, Dizon named DPWH chief
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Putin facing mounting pressure from the West
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Dizon requests for immigration lookout order vs ex-DPWH exec
- Trump rebrands Department of Defense as 'Department of War'
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Trump wants to meet Norea Korea's Kim again
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
