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://rede-hpq-wkhq-fli.705-888.com
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.
- Thailand ruling party moves to dissolve parliament
- Xi meets Modi as China and India seek to rebuild ties
- US strike marks shift to military action against drug cartels
- Trump moves to limit US stays of students, journalists
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- MMDA readies for FIVB men’s volleyball
- Trump moves to cut more foreign aid, risking shutdown
- DBP launches P50M program for education
- Task force cites new threats to media workers
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
