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://ycyzqzxyh.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.
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.
- Comelec probes 15 govt contractors over 2022 election donations
- India to probe giant zoo run by son of Asia's richest person
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- House tackles P881B public works budget amid flood control anomalies
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Marcos urged to raise WPS resolution at UN
- 11 foreigners killed in Portugal funicular crash
- ‘New NBI chief must be career official’
- Thailand's Parliament to vote Friday for a new prime minister
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
