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.”
”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://npnfpt.aichuwei.com
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Marcos mum on Magalong joining independent commission for DPWH probe
- PH has chance of getting UNSC seat - Manalo
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Four children killed by parents in Dominican Republic — police
- SpaceX cancels Starship megarocket launch in latest setback
- South Korean prosecutors indict Yoon's wife, former PM
- Supreme Court censures Marikina judge over parking dispute with PAO lawyer
- PH, Japan conduct search and rescue exercises
- Marcos orders lifestyle checks on all government officials amid flood control probe
