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.”
”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., This news data comes from:http://www.aichuwei.com
Go files housing development bill
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Thailand acting PM moves to dissolve parliament — party
- Thailand ruling party moves to dissolve parliament
- Anutin elected as Thailand's new prime minister
- Mass housing developers laud Pag-IBIG Fund
- Woman accused of murdering her children faces New Zealand trial
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- China to bolster non-Western alliances at summit, parade
- Israel military says controls 40 percent of Gaza City
- Public Works chief to press criminal charges against Bulacan engineer
