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.
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., This news data comes from:http://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.”
”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.
- Trump frustrated after thinking he made headway on Russia-Ukraine talks only to see Putin balk
- CBCP president urges Israel to stop military operations in Gaza
- Thailand ruling party moves to dissolve parliament
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Oil firms to hike pump prices Tuesday
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Bersamin letter proves Torre reassignments ‘valid’
