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., This news data comes from:http://redcanaco.com
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.
- AboitizPower pushes growth with clean, renewable energy
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Laws signed on holidays, court branches
- Indonesia's delayed new capital risks 'white elephant' status
- Lacson to govt: Protect education budget
- French couple kept panther that roamed nearby rooftops
- Israeli army: Gaza City now 'a dangerous combat zone'
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- SpaceX scrubs latest Starship launch due to bad weather
- Thai cannabis-championing tycoon takes office as PM
