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://uq.redcanaco.com
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.”
”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
- Open mic caught Xi, Putin discussing immortality
- CFO office moves from Quezon City to Pasay
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- North Korean leader inspects new missile factory ahead of visit to China
- Marcos urged to raise WPS resolution at UN
- Drug war whistleblower Royina Garma returns to PH after US detention
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- 2028 polls overseas voter registration opens in Dec
- Roxas matriarch Judy Araneta-Roxas, 91
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
