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., This news data comes from:http://erlvyiwan.com
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.”
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.
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Philippines presses call for ceasefire in Gaza
- Inflation up 1.5% in August
- CBCP president urges Israel to stop military operations in Gaza
- UK's mass facial-recognition roll-out alarms rights groups
- Thailand’s next PM reaffirms fresh polls promise
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- AboitizPower pushes growth with clean, renewable energy
- China is showing off its weaponry in a tightly controlled military parade
- PH to see ‘blood moon’ Sept. 7-8
