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.”
”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://tace.jyxingfa.com
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Taylor Swift, Travis Kelce engaged
- Argentina hunts Nazi-looted painting revealed in property ad
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Israel city honors Quezon’s wartime rescue of Jews
- Discaya says her family owns nine companies
- In Taiwan, competing narratives over the meaning of China's massive military show
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
