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://705-888.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.
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.
- Lacson to govt: Protect education budget
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- North Korea's Kim in China ahead of massive military parade
- Australia halts logging for koala haven on eastern coast
- Harold Cabreros takes post as new OCD chief
- Sotto files bill to amend party-list system
- LTO summons driver who berated enforcer
- Gaza at 'breaking point,' says UN food agency chief after visit
- Marcos confers diplomatic merit award on two ambassadors
- Seoul says over 300 South Koreans held in US battery plant site raid
