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.
Go files housing development bill
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation., This news data comes from:http://je-lws-ch-wk.771bg.com
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.
- PH, Australia commend ‘impressive’ joint sea drills
- Heart Evangelista faces scrutiny over lifestyle as husband loses Senate presidency
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- PH eyes global partners in biggest railway project
- Putin vows not to back down in Ukraine
- Argentine police recover Nazi-looted painting spotted in property ad
- Gasoline, diesel prices to increase by P1 next week
- North Korea's Kim in China ahead of massive military parade
- House starts flood control probe
- MMDA readies for FIVB men’s volleyball
