SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://vcb-kma-pfr-le.redcanaco.com
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.”
”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.
- Budget shortfall narrows in July
- House justice panel to probe US' extradition request for Quiboloy
- ‘Gomez ignorant of how media works’
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Indonesia leader orders investigation into driver's protest death
- Four children killed by parents in Dominican Republic — police
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- WBO champ looms as Pacquiao’s next opponent
