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.”, This news data comes from:http://redcanaco.com
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.
- Trump withdraws Kamala Harris's Secret Service protection
- DFA: No US extradition request for Quiboloy
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- 'Strangest' dinosaur covered in spiked armory – scientists
- Anti-fake news bill filed anew in House
- Thailand ruling party moves to dissolve parliament
- Rubio says US warned France on Israel annexation moves
- Gasoline, diesel prices to increase by P1 next week
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
