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://nie-hdq-rn-mkox.gyglfs.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.”
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.
- Portugal mourns after Lisbon streetcar accident kills 15
- DILG denies allegations that PNP chief fired over firearms deal
- Thai opposition's kingmaking summit fails to back new PM
- WorldSkills Asean Manila begins
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Remulla pledges transparency and impartiality as Ombudsman
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Former president Duterte's health stable despite high blood sugar, says VP Sara
