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.
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.”, This news data comes from:http://ejqovmu.705-888.com
”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.
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Indonesia, US and allies launch joint military drills
- Group: Register for free PhilHealth medicines
- LBC Express Holdings top executive to retire in Oct.
- French couple kept panther that roamed nearby rooftops
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Marikina City chief of police relieved
- Marcos signs law giving 99-year land lease to foreign investors
- DILG suspends classes, gov’t work in 17 areas
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
