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.
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.”, This news data comes from:http://owrykqoa.gangzhifhm.com
”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.
- DICT grants amnesty to unregistered delivery firms
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Pump prices increase for 2nd straight week
- Israel expects 1 million Gazans to flee new offensive
- Villanueva: Regularize contractual govt workers
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Sara Discaya admits owning 28 luxury cars
