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, This news data comes from:http://www.705-888.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.
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.
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Taylor Swift, Travis Kelce engaged
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Discaya’s construction companies competed against each other during biddings
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Mexican senators come to blows after heated debate
- UK police arrest hundreds in latest Palestine Action demo
- Over 800 killed as quake rocks Afghanistan
- Vietnam marks 80th independence anniversary with huge parade
