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.
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.”, This news data comes from:http://ggn-sqbf-ekaa-sgmf.771bg.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.
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Recto: No exemption for US tech firms from digital tax
- Thai opposition holds kingmaking summit deciding new PM
- No winner in lotto draws for Aug 30
- Marcos inspects rock shed project in Benguet
- Indonesian finance minister's home looted as protest anger grows
- House justice panel to probe US' extradition request for Quiboloy
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
