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., This news data comes from:http://lbq-brpn-cnc-yp.gangzhifhm.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.”
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.
Go files housing development bill
- Group presses DA on delayed fertilizer subsidies
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Israeli PM tells Gaza City residents to 'leave now'
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Budget shortfall narrows in July
- DMW: 19 distressed OFWs return home from Jeddah
- France seized by fears of new political crisis
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Cebu Pacific to launch direct flights between Cebu and Palawan
