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.
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., This news data comes from:http://hsxensrh.xs888999.com
- PNP chief Torre relieved, Nartatez to take over
- 'New' position being offered to Torre — Palace
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Protesters storm Discaya compound, Sotto calls for calm
- Malabon averts crisis with garbage deal
- Australia's 'mushroom murderer' handed life in prison with parole
- Pasig City continues barangay aid for efficiency, ends patronage politics
- 25 countries suspend postal services to US over tariffs – UN
