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., This news data comes from:http://wjadyewg.xs888999.com
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.
Go files housing development bill
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Government work, classes on Tuesday suspended due to bad weather
- Makati distributes Blu Card cash aid
- Read to reduce sentence, Uzbekistan tells prisoners
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Marcos to create independent commission to investigate flood control anomalies
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
