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://www.redcanaco.com
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.”
”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.
- Japan accelerates missile deployment amid rising regional tensions
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Thailand's Parliament to vote Friday for a new prime minister
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Malabon averts crisis with garbage deal
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
