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://qfqqcdxg.redcanaco.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.
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.
- Puno seeks probe of anomalous projects ‘funders’
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- Govt debt swells to record P17.58T
- Israel flattens high-rise as it tells Gaza City residents to flee
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Laws signed on holidays, court branches
- Alice Guo faces new cases over POGO land
- DBP launches P50M program for education
