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
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://xs888999.com
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.”
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.
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Hontiveros urges probe on Chinese faking Filipino identity
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Trump: Many Americans ‘like a dictator’
- 4 policemen linked to sabungero case slapped with more administrative cases
