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., This news data comes from:http://kjl-flu-xox-psx.yamato-syokunin.com
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.”
”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.
- Tax bureau hunts down contractors over questionable flood control deals
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Ballots for oct 13 BARMM polls completed – Comelec
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Putin vows not to back down in Ukraine
- DILG suspends classes, gov’t work in 17 areas
- Marcos embarks on three-day state visit to Cambodia
- Wildfire tears through California gold rush town
