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., This news data comes from:http://www.jyxingfa.com
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.”
”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.
- ICC postpones Duterte’s confirmation hearing after defense panel cites fitness concerns
- Gaza at 'breaking point,' says UN food agency chief after visit
- Pasig fire kills child, injures mother as she tries to save him
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Plea written in blood saves Chinese woman trapped in locked room
- Labubu fans flock to stores after launch of mini dolls
- Putin meets Kim, praises North Korean troops in Russia
