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://www.xs888999.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.
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.
- Mandela grandson says he will join Gaza aid boat
- Group presses DA on delayed fertilizer subsidies
- Discaya companies' licenses revoked for bid-rigging
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Lacson clears air over conflict with Marcoleta on flood control probe
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Taylor Swift, Travis Kelce engaged
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Open mic caught Xi, Putin discussing immortality
