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., This news data comes from:http://loux.ycyzqzxyh.com
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.
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.
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Nepali court: Hindu holy men's nudity not obscene
- Bonoan resigned due to command responsibility — Marcos
- IBP to form good governance panel
- Customs preparing report on Discayas’ 28 luxury cars
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
