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., This news data comes from:http://tl.yamato-syokunin.com
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.
- Transport chief pushes shame campaign vs errant motorists
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- House resolution filed to investigate 'funders' of anomalous projects
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- North Korean leader inspects new missile factory ahead of visit to China
- Israeli army: Gaza City now 'a dangerous combat zone'
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
