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.
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.”, This news data comes from:http://fctfw.705-888.com
”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.
- Venezuela builds up border security over US warships
- Argentine police recover Nazi-looted painting spotted in property ad
- Police brutality fuels soaring tensions in Indonesia
- Maduro calls for dialogue hours after Trump’s threat
- One in four people lack access to safe drinking water – UN
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Head of main US health agency abruptly dismissed
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Four children killed by parents in Dominican Republic — police
