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://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.
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.
- Iran says open to US nuclear talks, rejects missile curbs
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Follow the trucks: Why investors are looking south of Metro Manila
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- PNP chief leads fun run
- Konektadong Pinoy bill lapses into law
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Rubio says US warned France on Israel annexation moves
