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.
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.”, This news data comes from:http://brhh-iepb-negm-dov.erlvyiwan.com
”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.
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- House justice panel to probe US' extradition request for Quiboloy
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- 2 Marikina policemen accused of molestation
- Rubio says US warned France on Israel annexation moves
- Wildfires producing 'witches' brew' of air pollution – UN
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Social media erupts: Politicians' children face backlash for flaunting wealth
- NATIONAL ARTIST'S HOMETOWN
- Australia government condemns anti-immigration rally in Sydney
