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.
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.”
”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://www.gyglfs.com
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Estrada, Villanueva tagged in House flood control mess, says SOP was '30%'
- Epstein victims compiling list of sexual abusers
- Thai opposition's kingmaking summit fails to back new PM
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Modi: India, Japan to 'shape the Asian century'
- CFO office moves from Quezon City to Pasay
- Fears of new political crisis grip France
- Putin meets Kim, praises North Korean troops in Russia
- 'New' position being offered to Torre — Palace
