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://wkrf-daxl-wfom-pm.yamato-syokunin.com
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.
- Eala ousts Day, enters Guadalajara Open final
- Lacson to govt: Protect education budget
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Sarah Discaya grilled by Senate over alleged DPWH links
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Comelec probes 15 contractors for illegal campaign donations
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Duterte defense files more motions challenging ICC prosecutor
- South Korean President vows support to Koreans arrested in US immigration raid
