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://wv-eg-ng-kk.gangzhifhm.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.
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
- Trump moves to limit US stays of students, journalists
- Bonoan resigned due to command responsibility — Marcos
- Support grows for independent probe into flood control projects
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Marcos 'ready' to undergo lifestyle check- Palace
- Gloria Arroyo files bill to empower Office of the Vice President
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Suspect in 2012 killing of Dutch aid worker freed
