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://ot-xp-lvwu-yjge.gangzhifhm.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.
- China's Communist rulers push party role before World War II anniversary
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- New mining law to balance profit, ecology
- Leviste files charges against DPWH engineer who tried to bribe him
- Task force cites new threats to media workers
- Trump withdraws Kamala Harris's Secret Service protection
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- SC orders comment on petitions vs polls
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Government work, classes on Tuesday suspended due to bad weather
