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.
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://xs888999.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.
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- SpaceX cancels Starship megarocket launch
- Fuel prices up for 3rd straight week
- Afghan quake death toll surges to over 2,200
- Peace efforts in limbo as Kyiv mourns 23 dead
- No winner in lotto draws for Aug 30
- PH to see ‘blood moon’ Sept. 7-8
- China to bolster non-Western alliances at summit, parade
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
