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://dbn.xs888999.com
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.
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Oil firms to raise fuel prices this week
- Van Gogh Museum 'could close' without more help from Dutch govt
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- DSWD allocates P6.2B for livelihood program
- Marcos 'ready' to undergo lifestyle check- Palace
- Sara Discaya admits owning 28 luxury cars
- China's Xi holds talks with North Korea's Kim in Beijing
