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://aks-ook-fu-bx.gangzhifhm.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.”
”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.
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- Bolsonaro verdict looms as Brazil coup trial closes
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Dizon to order DPWH officials to submit courtesy resignation
- President Marcos launches HD Hyundai Shipyard in Subic
- Sotto to Lead Senate again as majority votes to oust Escudero
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Russia hits seat of Ukraine government in war's biggest air attack
- MMDA readies for FIVB men’s volleyball
