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://aichuwei.com
Go files housing development bill
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.
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.
- MPD announces road closures for Bar exams
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Japan accelerates missile deployment amid rising regional tensions
- Manila mayor warns against mobs, orders police to maintain peace and order
- DPWH exec asked lawmaker to make budget insertions — Lacson
- DOJ indicts Abra Mining for fraudulent trading
- Go files housing development bill
- Marcos names Dizon as DPWH secretary
- Legarda pushes Magna Carta of Waste Workers
