SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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., This news data comes from:http://hn-feo-yl-qx.705-888.com
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.”
”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.
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- DOJ indicts Abra Mining for fraudulent trading
- Nepali court: Hindu holy men's nudity not obscene
- Motive probed for US shooting that killed two children, injured 17
- Lacson: DPWH exec sought ‘insertions’
- PH Defense chief slammed for 'bad mouthing' China
- US strike marks shift to military action against drug cartels
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Immigration deports 49 South Korean fugitives
