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://www.ycyzqzxyh.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.
Go files housing development bill
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Australia's 'mushroom murderer' handed life in prison with parole
- Comelec upholds cancelation of Duterte Youth registration
- Thailand's Parliament to vote Friday for a new prime minister
- Australia to tackle deepfake nudes, online stalking
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- Makati earns high rating in anti-trafficking and violence assessment
- DPWH exec fired, 2 others face dismissal over flood control mess
- Israeli protesters demand hostage deal as cabinet meets
