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.
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.”
Go files housing development bill
”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://www.xs888999.com
- Marcos signs laws declaring holidays across PH
- Thailand’s next PM reaffirms fresh polls promise
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- 15 drug war victims cleared to join Duterte's ICC case
- Van Gogh Museum 'could close' without more help from Dutch govt
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Japan accelerates missile deployment amid rising regional tensions
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Philippines calls for Gaza ceasefire amid humanitarian crisis
