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.
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.”, This news data comes from:http://vdbds.gangzhifhm.com
”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.
- Comelec to resume BARMM polls ballot printing Thursday
- 13 massage therapists robbed, 2 cry rape
- Prince Harry to visit UK on anniversary of queen's death
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- South Korean prosecutors indict Yoon's wife, former PM
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Customs preparing report on Discayas’ 28 luxury cars
- ChatGPT to get parental controls after teen's death
- Indonesia, US and allies launch joint military drills
