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://erlvyiwan.com
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.”
”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.
- Social pension eyed for indigent seniors
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Seoul says over 300 South Koreans held in US battery plant site raid
- ICC postpones Duterte's hearing, reviews fitness to stand trial
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Australia's 'mushroom murderer' handed life in prison with parole
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Protesters storm Discaya compound for second straight day
