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., This news data comes from:http://gyglfs.com
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.
- Lacson warns lawmakers may be complicit in ghost flood control projects
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Australia expels Iran ambassador over antisemitic attacks
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- SpaceX cancels Starship megarocket launch
- Prompt release of educational aids sought
- DBP launches P50M program for education
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
