SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://771bg.com
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.
Go files housing development bill
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.
- DPWH told to build evacuation centers
- House tackles P881B public works budget amid flood control anomalies
- Israeli protesters demand hostage deal as cabinet meets
- ‘Gomez ignorant of how media works’
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Alex Eala makes history With comeback victory at US Open
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Inoue says taunts 'missed the target' ahead of world title clash
- Supreme Court: It’s work as usual in judiciary
- Thai opposition's kingmaking summit fails to back new PM
