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://rncwpftn.705-888.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.
- Applicability of zero-balance billing questioned
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Trump: Many Americans ‘like a dictator’
- South Korean President vows support to Koreans arrested in US immigration raid
- Fair weather in PH except for isolated downpours — Pagasa
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Ballots for oct 13 BARMM polls completed – Comelec
- Dizon requests for immigration lookout order vs ex-DPWH exec
- Indonesia's delayed new capital risks 'white elephant' status
- 1 of 2 suspects in Pasay robbery, rape arrested
