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.
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.
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://ek-iger-frff-qqc.771bg.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.
- House resolution filed to investigate 'funders' of anomalous projects
- COA launches sweeping audit of flood control projects
- Russia hits seat of Ukraine government in war's biggest air attack
- 15 companies vie for 'Sustainability Champions' award
- Pope declares 'God's influencer' first millennial saint
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- Appointments panel holds first session
- Modi, Ishiba agree to boost economic ties
- 1.2K pass Electrical Engineers exam
