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.
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., This news data comes from:http://xs888999.com
- Australia government condemns anti-immigration rally in Sydney
- DILG denies allegations that PNP chief fired over firearms deal
- 1.2K pass Electrical Engineers exam
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Marcos to create independent commission to investigate flood control anomalies
- US warship heading toward Caribbean Sea
- Putin facing mounting pressure from the West
- Sotto takes oath as Senate president
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Thousands rally in Serbia and accuse police of brutality at anti-government demonstrations
