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.
Go files housing development bill, This news data comes from:http://redcanaco.com
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.
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Bersamin letter proves Torre reassignments ‘valid’
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Peace efforts in limbo as Kyiv mourns 23 dead
- 500 Internal Server Error
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Putin meets Kim, praises North Korean troops in Russia
- Eala writes another historic chapter in Philippine tennis
- Xi says China 'unstoppable' in parade opening speech
