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://wh.jyxingfa.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.
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.”
”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.
- International media protest over journalist deaths in Gaza
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Marcos 'ready' to undergo lifestyle check- Palace
- P270M rock shed useless – Marcos
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- New DPWH chief Dizon: "A department can't investigate itself"
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Washington makes military aid overtures to Sahel juntas
- Indonesian police officer fired over killing that sparked protests
