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.
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.
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.”
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., This news data comes from:http://www.052298.com
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- 'God's Influencer' to become first millennial saint
- Japan prince comes of age as succession crisis looms
- Nartatez relieves Fajardo as PNP spokesman
- SC orders comment on petitions vs polls
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- DSWD program reduced hunger
- Cambodia MPs pass law allowing stripping of citizenship
- NATIONAL ARTIST'S HOMETOWN
- Former DPWH chief denies links to corruption
