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://nknhmrp.052298.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.
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- CBCP president urges Israel to stop military operations in Gaza
- Marcos approves EO for commission to probe flood project anomalies
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- China is showing off its weaponry in a tightly controlled military parade
- Argentine police recover Nazi-looted painting spotted in property ad
- MPD announces road closures for Bar exams
- Japan accelerates missile deployment amid rising regional tensions
- Oil firms to hike pump prices Tuesday
- 4 policemen linked to sabungero case slapped with more administrative cases
