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.
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://mm-ukyt-hb-qau.771bg.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.
Go files housing development bill
- Venezuela deploys warships, drones as US destroyers draw near
- AKG chief denies using ‘kidnap’ car for personal purposes
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Thai tycoon takes office as PM after royal endorsement
- PH Defense chief slammed for 'bad mouthing' China
- Macron's decision to recognize Palestinian state angers Israel and the US
- MPD announces road closures for Bar exams
- 3 Luzon dams release water
- PH eyes global partners in biggest railway project
