SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill, This news data comes from:http://www.yamato-syokunin.com
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.
Go files housing development bill
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.
- IBP to form good governance panel
- Thailand’s next PM reaffirms fresh polls promise
- Australia government condemns anti-immigration rally in Sydney
- Navotas holds anti-plastic drive
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Over 800 killed as quake rocks Afghanistan
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Israel city honors Quezon’s wartime rescue of Jews
