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., This news data comes from:http://www.gyglfs.com
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.
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
- EU massive fine against Google draws Trump threat
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- No peace without end to hostilities –Arab bloc
- Thai opposition's kingmaking summit fails to back new PM
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- China is showing off its weaponry in a tightly controlled military parade
- Preliminary report on Lisbon funicular accident expected
