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.
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.”, This news data comes from:http://705-888.com
”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.
- 15 drug war victims cleared to join Duterte's ICC case
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Comelec probes 15 contractors for illegal campaign donations
- PH, Japan conduct search and rescue exercises
- Nepal to block unregistered social media platforms – govt
- 'Perfect storm': UK fishermen reel from octopus invasion
- Prince Harry to visit UK on anniversary of queen's death
- Govt debt swells to record P17.58T
- Gasoline, diesel prices to increase by P1 next week
