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://nn-rav-cb-do.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.
- Trump withdraws Kamala Harris's Secret Service protection
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Anti-fake news bill filed anew in House
- Pagasa sees cyclone-free week across PH
- PH to see ‘blood moon’ Sept. 7-8
- Bonoan resigned due to command responsibility — Marcos
- Prince Harry to visit UK on anniversary of queen's death
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Drones take on Everest's garbage
- Wife and ally of ousted SKorean president indicted by special prosecutors
