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., This news data comes from:http://ci.redcanaco.com
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.
- Nartatez vows to be fair in making reassignments
- Bonoan freezes DPWH travel passes
- Comelec to resume BARMM polls ballot printing Thursday
- Dizon to order DPWH officials to submit courtesy resignation
- No winner in Grand, Megalotto draws for Aug 27
- Supreme Court: It’s work as usual in judiciary
- Australia to tackle deepfake nudes, online stalking
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- P270M rock shed useless – Marcos
