SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://ny-cqj-kx-ay.052298.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.”
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.
- Thai Court: PM Shinawatra violated ethics rules
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Sara Discaya admits owning 28 luxury cars
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Palace suspends govt work, classes in several areas due to bad weather
- Lacson clears air over conflict with Marcoleta on flood control probe
- Putin tells Xi China-Russia ties are at 'unprecedented level'
