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.gangzhifhm.com
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.”
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.
Go files housing development bill
- Lookout bulletins out vs Atong Ang, Barretto
- Immigration deports 49 South Korean fugitives
- DPWH opens foreign-assisted projects to LGUs
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Comelec defers BARMM district reconstitution
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Xi meets Modi as China and India seek to rebuild ties
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
