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., This news data comes from:http://www.redcanaco.com
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.
- UK's mass facial-recognition roll-out alarms rights groups
- Marikina City chief of police relieved
- Trump move to cut more foreign aid risking shutdown
- AKG chief denies using ‘kidnap’ car for personal purposes
- Zelenskyy meets European leaders on Ukraine security guarantees
- Lacson clears air over conflict with Marcoleta on flood control probe
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- DSWD's guarantee letters now accepted in more establishments
- China is showing off its weaponry in a tightly controlled military parade
- Gomez-Estoesta named court administrator by Supreme Court
