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.
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://ufn.xs888999.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.
- Thai opposition's kingmaking summit fails to back new PM
- Trump withdraws Kamala Harris's Secret Service protection
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- 'Large shark' kills man off Sydney beach
- House starts flood control probe
- Marcos suspends importation of regular, well-milled rice for 60 days
- Hontiveros urges probe on Chinese faking Filipino identity
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Malabon City honors partners
