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.
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://eexf-nd-uyja-tgk.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.
Go files housing development bill
- Motive probed for US church shooting that killed 2 children, injured 17
- Afghan quake death toll surges to over 2,200
- Transport chief pushes shame campaign vs errant motorists
- Head of main US health agency abruptly dismissed
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- Need a pee? Japan has QR code for that
- Supreme Court urged to act on fake complaints
- New mining law to balance profit, ecology
- Tokyo logs record 10 days of 35 C or higher
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
