SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://htl-mabn-hrqt-da.771bg.com
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.
- Pagasa sees cyclone-free week across PH
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- ‘Gomez ignorant of how media works’
- Indonesia turns down ear-splitting 'haram' street parties
- Open mic caught Xi, Putin discussing immortality
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Australia government condemns anti-immigration rally in Sydney
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Sarah Discaya grilled by Senate over alleged DPWH links
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
