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., This news data comes from:http://ycyzqzxyh.com
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.
- PH eyes global partners in biggest railway project
- Sotto allows detained Public Works engineer to attend House probe on flood control projects
- In Taiwan, competing narratives over the meaning of China's massive military show
- Comelec probes 15 contractors for illegal campaign donations
- 4 of 15 contractors on Marcos list have clean records – DPWH
- DOTr denies ordering shutdown of online selling platforms
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Anti-fake news bill filed anew in House
- Venezuela deploys warships, drones as US destroyers draw near
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
