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://xs888999.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.”
Go files housing development bill
”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.
- Oil firms to raise fuel prices this week
- Comelec probes 15 govt contractors over 2022 election donations
- House bill seeks to regulate AI use
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Sotto files bill to amend party-list system
- Marcos soon to create commission to probe flood control projects
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Gasoline, diesel prices to increase by P1 next week
- CFO moves office from QC to Pasay
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
