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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://052298.com
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.
Go files housing development bill
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Marcos names Dizon as DPWH secretary
- Firefighters arrested by US immigration officials
- Nepal to block unregistered social media platforms – govt
- Trump to blacklist countries for imprisoning Americans
- No peace without end to hostilities –Arab bloc
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Manila mayor warns against mobs, orders police to maintain peace and order
- Putin vows not to back down in Ukraine
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
