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.
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://ycyzqzxyh.com
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.
- Lacson clears air over conflict with Marcoleta on flood control probe
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- SpaceX cancels Starship megarocket launch
- Thailand acting PM moves to dissolve parliament — party
- Trump to blacklist countries for imprisoning Americans
- Need to pee? Japan has QR code for that
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Marcos orders full budget review for DPWH amid ghost projects scandal
- SSS rolls out historic pension reform program
