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.”
Go files housing development bill
”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://vvvon.ycyzqzxyh.com
- US church shooter 'obsessed with idea of killing children'
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Maduro calls for dialogue hours after Trump’s threat
- DPWH opens foreign-assisted projects to LGUs
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Gloria Arroyo files bill to empower Office of the Vice President
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Wildfire tears through California gold rush town
- Xi meets Modi as China and India seek to rebuild ties
- Taylor Swift, Travis Kelce engaged
