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://771bg.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.
- Government work, classes on Tuesday suspended due to bad weather
- South Korea to ban mobile phones in school classrooms
- BuCor chief calls for major reforms
- Leviste files charges against DPWH engineer who tried to bribe him
- Trump wants to meet Norea Korea's Kim again
- Roxas matriarch Judy Araneta-Roxas, 91
- Woman accused of murdering her children faces New Zealand trial
- China's Xi holds talks with North Korea's Kim in Beijing
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
