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://npnykfxr.redcanaco.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.
- Sarah Discaya grilled by Senate over alleged DPWH links
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Marcos denies sister's claim on alleged plot to jail Vice President Duterte
- Malabon averts crisis with garbage deal
- Maduro calls for dialogue hours after Trump’s threat
- Indonesian finance minister's home looted as protest anger grows
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Pasig mayor pushes DPWH reforms to curb corruption
- Trump move to cut more foreign aid risking shutdown
- Russia hits seat of Ukraine government in war's biggest air attack
