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.
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://wkxs-ao-qvk-cxm.gangzhifhm.com
Go files housing development bill
- New law lets foreigner investors lease land for 99 years
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Putin threatens to target Western troops in Ukraine
- MMDA prepares for PH hosting of FIVB
- Israeli forces seize nearly 0,000 in West Bank raid
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Lacson to govt: Protect education budget
- Immigration deports 49 South Korean fugitives
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- WBO champ looms as Pacquiao’s next opponent
