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://gpsd.redcanaco.com
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.
- Philippines presses call for ceasefire in Gaza
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Police brutality fuels soaring tensions in Indonesia
- 4 of 15 contractors on Marcos list have clean records – DPWH
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Marcos mum on Magalong joining independent commission for DPWH probe
- Alice Guo faces new cases over POGO land
- Need to pee? Japan has QR code for that
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
