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., This news data comes from:http://qvksohvc.xs888999.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.”
”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.
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Nepal to block unregistered social media platforms – govt
- Putin and Modi in China for summit hosted by Xi
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Israeli forces seize nearly 0,000 in West Bank raid
- New mining law to balance profit, ecology
- Two dead as strong earthquake jolts Afghanistan
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
