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://redcanaco.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.
- House starts flood control probe
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Earthquake kills 250, injures 500 in Afghanistan
- Hope dwindles for survivors days after deadly Afghan quake
- Labubu fans flock to stores after launch of mini dolls
- Customs preparing report on Discayas’ 28 luxury cars
- No winner in Ultra, Megalotto draws for Sept 5
- Marcos urged to raise WPS resolution at UN
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
