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.
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://man-oqc-mur-lly.xs888999.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.
Go files housing development bill
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Customs recovers 10 more Discaya luxury cars
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- China is showing off its weaponry in a tightly controlled military parade
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Trump stamps 'dictator chic' on Washington
- Australia's 'mushroom murderer' handed life in prison with parole
