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., This news data comes from:http://www.gangzhifhm.com
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.
- 500 Internal Server Error
- Trump health misinformation swirls despite denial
- Guyana votes amid oil boom, Venezuela tensions
- Marcos wants subpoena power for body investigating flood projects
- DILG denies allegations that PNP chief fired over firearms deal
- Government work, classes on Tuesday suspended due to bad weather
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Sotto takes oath as Senate president
- OVP ready to submit to lifestyle check if ordered, no word from Sara
