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://kyq-hle-ksug-lbw.aichuwei.com
- North Korean leader inspects new missile factory ahead of visit to China
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Iran says open to US nuclear talks, rejects missile curbs
- CFO office moves from Quezon City to Pasay
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- US halts 80% complete, huge offshore wind farm
- CBCP president urges Israel to stop military operations in Gaza
- PH to see ‘blood moon’ Sept. 7-8
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- Australia expels Iran ambassador over antisemitic attacks
