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., This news data comes from:http://rlmy-gv-hrs-lfdu.ycyzqzxyh.com
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.”
Go files housing development bill
”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.
- Meeting South Korea, Trump could eye new chance with North
- Vico encourages citizens on Heroes’ Day to be brave
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- La Niña may return but temperatures will remain high, UN says
- Police officers face more charges in missing cockfight enthusiasts case
- Roxas matriarch, 91
- US Spirit Airlines files for bankruptcy again
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Marcos 'ready' to undergo lifestyle check- Palace
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
