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.
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://pnnnalfy.771bg.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.
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Workers urge Marcos to stop corruption by banning political dynasties
- DPWH engineer denies role in Bulacan flood control ‘ghost projects’
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Nepal to block unregistered social media platforms – govt
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- DILG denies allegations that PNP chief fired over firearms deal
- Leviste files charges against DPWH engineer who tried to bribe him
- Indonesian police officer fired over killing that sparked protests
- US church shooter 'obsessed with idea of killing children'
