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.
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://ldctsifc.705-888.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.
- Modi, Ishiba agree to boost economic ties
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- New judge to handle Dengvaxia cases named; hearing set
- 4 policemen linked to sabungero case slapped with more administrative cases
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Guyana votes amid oil boom, Venezuela tensions
- Budget shortfall narrows in July
- Israeli protesters demand hostage deal as cabinet meets
