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.
Go files housing development bill
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.”, This news data comes from:http://www.yamato-syokunin.com
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.
- Japan PM Ishiba bounces back in polls after election debacle
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- UK, Japan, South Korea endure hottest summer on record
- MMDA inks deal with DBM for G-3 program
- Inoue says taunts 'missed the target' ahead of world title clash
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
