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://rsdl-yb-yx-db.redcanaco.com
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.
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.
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Indonesian police officer fired over killing that sparked protests
- Read to reduce sentence, Uzbekistan tells prisoners
- Bishops demand broad probe into flood project corruption
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Gaza at 'breaking point,' says UN food agency chief after visit
- Putin lands in Tianjin for summit hosted by China
- Open mic caught Xi, Putin discussing immortality
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
