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.
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., This news data comes from:http://fqxdhldt.705-888.com
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- South Korean President vows support to Koreans arrested in US immigration raid
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Modi: India, Japan to 'shape the Asian century'
- Trump escalates crackdown threats with Chicago 'war' warning
- Marcos mum on Magalong joining independent commission for DPWH probe
- Laws signed on holidays, court branches
- Russia hits seat of Ukraine government in war's biggest air attack
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Argentine police recover Nazi-looted painting spotted in property ad
