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.”, This news data comes from:http://akxogf.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.
- 'Five Eyes' ministers meet to discuss smashing people smuggling gangs, UK says
- Gomez-Estoesta named court administrator by Supreme Court
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Drones take on Everest's garbage
- 'I have no resentment,' says Torre after dismissal as PNP chief
- SC clarifies rules on land ownership
- PH economic losses hit 100B from corruption in flood control projects
- Go files housing development bill
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
