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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://www.yamato-syokunin.com
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.
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- Epstein victims compiling list of sexual abusers
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Fears of new political crisis grip France
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Angkas supports DICT's amnesty program for unregistered delivery services
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Maduro calls for dialogue hours after Trump’s threat
- Public Works chief to press criminal charges against Bulacan engineer
- Duterte lawyers take aim at ICC prosecutor
