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., This news data comes from:http://pnr-wodt-tnfd-xbkq.gangzhifhm.com
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.”
”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.
- Inoue says taunts 'missed the target' ahead of world title clash
- Alex Eala makes history With comeback victory at US Open
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Open mic caught Xi, Putin discussing immortality
- House resolution filed to investigate 'funders' of anomalous projects
- Japan PM Ishiba bounces back in polls after election debacle
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- DSWD's guarantee letters now accepted in more establishments
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Duterte Youth brings Comelec cancelation battle to Supreme Court
