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://www.ycyzqzxyh.com
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.”
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.
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Hontiveros pushes P15,000 salary hike for teachers
- Trump moves to end US tariff exemption for small packages
- White House fires US health agency head after she refused to quit
- Pump prices increase for 2nd straight week
- PNP chief Torre relieved from post — Palace
- 11 foreigners killed in Portugal funicular crash
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
