SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.
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.”, This news data comes from:http://ldiwqerd.gangzhifhm.com
”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.
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Marcos expresses support for ‘beleaguered’ Cabinet members
- New mining law to balance profit, ecology
- Makati earns high rating in anti-trafficking and violence assessment
- Duterte defense files more motions challenging ICC prosecutor
- Trump wants to meet Norea Korea's Kim again
- Lookout bulletins out vs Atong Ang, Barretto
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Police officers face more charges in missing cockfight enthusiasts case
- Rubio says US warned France on Israel annexation moves
