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.
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.”
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., This news data comes from:http://klh.redcanaco.com
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
- PNP chief Torre relieved from post — Palace
- Konektadong Pinoy Bill has lapsed into law — Palace
- Trump moves to end US tariff exemption for small packages
- Comelec defers reconstitution of BARMM parliamentary districts
- Follow the trucks: Why investors are looking south of Metro Manila
- Police brutality fuels soaring tensions in Indonesia
- Roxas matriarch, 91
- Co out of country for medical reasons
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
