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://www.redcanaco.com
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.
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- 'Large shark' kills man off Sydney beach
- Pope Leo: We must listen first before speaking
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Giovanni Lopez pledges to continue and expand DOTr reforms
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Indonesia leader orders investigation into driver's protest death
- Tokyo protests to Beijing over gas field in East China Sea
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Trump hails Department of War rebrand as 'message of victory'
