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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://www.aichuwei.com
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
- Putin meets Kim, praises North Korean troops in Russia
- Construction managers, developers back Housing chief's anti-corruption advocacy
- DILG denies allegations that PNP chief fired over firearms deal
- VP Sara lauds Filipino heroes
- DPWH told to build evacuation centers
- 9 dead in Ecuador after bus plunges into ravine
- Group presses DA on delayed fertilizer subsidies
- Marcos lauds Alex Eala’s win in Guadalajara
- France seized by fears of new political crisis
- Unnamed skeletons? US museum at center of ethical debate
