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., This news data comes from:http://hild-vj-sfa-ea.aichuwei.com
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.
- Duterte defense files more motions challenging ICC prosecutor
- Xi meets Modi as China and India seek to rebuild ties
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Bonoan resigned due to command responsibility — Marcos
- No winner in lotto draws for Aug 23
- Over 800 killed as quake rocks Afghanistan
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Comelec defers reconstitution of BARMM parliamentary districts
