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.
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.”, This news data comes from:http://pbomct.gangzhifhm.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.
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Venezuela builds up border security over US warships
- Gaza at 'breaking point,' says UN food agency chief after visit
- Group presses DA on delayed fertilizer subsidies
- Need a pee? Japan has QR code for that
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- CBCP president urges Israel to stop military operations in Gaza
- Marcos confers diplomatic merit award on two ambassadors
- Passenger with fake Overseas Employment Certificate barred from leaving
