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.
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.”
”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., This news data comes from:http://xhxakrc.redcanaco.com
- Former PNP chief Torre III offered new government post
- Trump tells Europe to put economic pressure on China over Ukraine
- LPA has big chance of intensifying into tropical cyclone to be named ‘Kiko’
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Discaya companies' licenses revoked for bid-rigging
- Motive probed for US shooting that killed two children, injured 17
- Venezuela builds up border security over US warships
- Manila mayor warns against mobs, orders police to maintain peace and order
- Indonesia leader orders investigation into driver's protest death
- Modi, Ishiba agree to boost economic ties
