SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.”, This news data comes from:http://vd.gangzhifhm.com
”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.
- Bonoan freezes DPWH travel passes
- Modi, Ishiba agree to boost economic ties
- DILG denies allegations that PNP chief fired over firearms deal
- Gasoline, diesel prices to increase by P1 next week
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Trump rebrands Department of Defense as 'Department of War'
- Customs preparing report on Discayas’ 28 luxury cars
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
