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.
Go files housing development bill, This news data comes from:http://www.705-888.com
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.”
”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.
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Konektadong Pinoy Bill has lapsed into law — Palace
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- DILG denies allegations that PNP chief fired over firearms deal
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Israeli army: Gaza City now 'a dangerous combat zone'
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Comelec to resume BARMM polls ballot printing Thursday
- Marcos orders lifestyle check on all govt officials amid flood projects probe
