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.
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., This news data comes from:http://nadanty.gyglfs.com
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Israel tells residents to leave Gaza City ahead of offensive
- Lacson: DPWH exec sought ‘insertions’
- Bersamin letter proves Torre reassignments ‘valid’
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- Zelenskyy meets European leaders on Ukraine security guarantees
- Social media erupts: Politicians' children face backlash for flaunting wealth
