SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://dp-qbtb-tj-ihp.aichuwei.com
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.”
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.
- Motive probed for US shooting that killed two children, injured 17
- Iran says open to US nuclear talks, rejects missile curbs
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Pagasa sees cyclone-free week across PH
- Marcos inspects rock shed project in Benguet
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Oil firms to raise fuel prices this week
- SEARCH WARRANT
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Mexican drug lord faces life in prison after pleading guilty in US court
