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.
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.
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://sxcvlwuj.xs888999.com
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.
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Budget shortfall narrows in July
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Open mic caught Xi, Putin discussing immortality
- Zelenskyy meets European leaders on Ukraine security guarantees
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Read to reduce sentence, Uzbekistan tells prisoners
- NACC renews appeal: Adopt neglected kids
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Guyana votes amid oil boom, Venezuela tensions
