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., This news data comes from:http://yamato-syokunin.com
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.”
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.
- Over 800 killed as quake rocks Afghanistan
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Marcos signs mining tax regime law
- ‘God’s Influencer’ to become first millennial saint
- Nartatez vows fair assignments, better resource management as new PNP chief
- President asks governor to expose irregularities in govt projects
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Trump moves to limit US stays of students, journalists
