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://fum-ks-qh-rec.yamato-syokunin.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.”
”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
- CBCP president urges Israel to stop military operations in Gaza
- Pacifist Japan struggles to boost troops as China anxiety grows
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- US strike marks shift to military action against drug cartels
- 15 drug war victims cleared to join Duterte's ICC case
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Thailand's Parliament to vote Friday for a new prime minister
- Makati earns high rating in anti-trafficking and violence assessment
