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., This news data comes from:http://snef-fkd-lcdp-jxpb.771bg.com
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.”
”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.
Go files housing development bill
- Comelec probes 15 contractors for illegal campaign donations
- Former Bulacan district engineer admits going to casinos
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- One in four people lack access to safe drinking water – UN
- Trump to blacklist countries for imprisoning Americans
- Marcos opens WorldSkills Asean competition
- Argentina hunts Nazi-looted painting revealed in property ad
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- President Marcos to attend 80th UN General Assembly in New York
