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.
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.”, This news data comes from:http://www.705-888.com
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.
- Mexican boxer Chavez Jr. released from prison pending trial
- Students, faculty file complaint against Universidad de Manila president
- SpaceX cancels Starship megarocket launch
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Prompt release of educational aids sought
- French couple kept panther that roamed nearby rooftops
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Putin threatens to target Western troops in Ukraine
