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.
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://dq.redcanaco.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.
- EU massive fine against Google draws Trump threat
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Former PNP chief Torre III offered new government post
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Labubu fans flock to stores after launch of mini dolls
- Duterte defense files more motions challenging ICC prosecutor
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- 'Ondoy'-level rains swamp Quezon City
- China to bolster non-Western alliances at summit, parade
