SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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://ycyzqzxyh.com
Go files housing development bill
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.”
”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.
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Harold Cabreros takes post as new OCD chief
- Sarah Discaya grilled by Senate over alleged DPWH links
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- House justice panel to probe US' extradition request for Quiboloy
- Indonesian police officer fired over killing that sparked protests
- PH to host seafarers’ welfare forum
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Navotas holds anti-plastic drive
