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.
Go files housing development bill
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.”, This news data comes from:http://771bg.com
”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.
- Comelec upholds cancelation of Duterte Youth registration
- Group presses DA on delayed fertilizer subsidies
- Trump withdraws Kamala Harris's Secret Service protection
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Israel ups pressure on Gaza City
- China 'unstoppable', says Xi with Kim, Putin at his side
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Xi meets Modi as China and India seek to rebuild ties
- Wildfires producing 'witches' brew' of air pollution – UN
- 1 of 2 suspects in Pasay robbery, rape arrested
