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://wg-mn-duj-hc.redcanaco.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.
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.
- Japan PM decides to quit as opponents seek leadership election: reports
- SEARCH WARRANT
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Red Cross head says mass evacuation of Gaza City 'impossible'
- 'Mockery of science': US experts blast Trump climate report
- PH to see ‘blood moon’ Sept. 7-8
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Israel army urges Gaza City residents to leave
- Heart Evangelista faces scrutiny over lifestyle as husband loses Senate presidency
- Bonoan resigns, Dizon named DPWH chief
