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
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://705-888.com
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.
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.
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- No winner in Grand, Megalotto draws for Aug 27
- Putin threatens to target Western troops in Ukraine
- 'Strangest' dinosaur covered in spiked armory – scientists
- US approves .5M in assistance to Nigeria to help address hunger
- Marcos approves EO for commission to probe flood project anomalies
- New DPWH chief Dizon: "A department can't investigate itself"
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- 'No way' US troops can invade Venezuela, says Maduro
