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.
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.”
”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., This news data comes from:http://paci-wsj-nest-upek.ycyzqzxyh.com
- Russia hits seat of Ukraine government in war's biggest air attack
- Duterte lawyers take aim at ICC prosecutor
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- 'New' position being offered to Torre — Palace
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- SpaceX cancels Starship megarocket launch
- Firefighters arrested by US immigration officials
- LPA may still develop into short-lived tropical cyclone
- SSS rolls out historic pension reform program
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
