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.
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://mw.redcanaco.com
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.
- Japanese climber, 102, sets Mount Fuji record
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- EU massive fine against Google draws Trump’s ire
- ₱1.7M shabu seized in Taguig buy-bust
- Israeli strikes in Yemen's capital kill six, Houthis say
- NBI starts own inquiry of DPWH contracts
- 20 people missing after deadly Indonesia protests
- Escudero says new lease law to make PH more appealing to investors
- Sen. Bong Go files bill for better health worker protection, benefits
- Pasig City continues barangay aid for efficiency, ends patronage politics
