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.
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.”, This news data comes from:http://au.gyglfs.com
”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
- South Korean prosecutors indict Yoon's wife, former PM
- French parliament set to eject PM in blow to Macron
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Lacson clears air over conflict with Marcoleta on flood control probe
- Putin vows not to back down in Ukraine
- India will not 'bow down,' trade minister says after US tariffs
- Go files housing development bill
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Oil firms to raise pump prices Tuesday
