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.”, This news data comes from:http://771bg.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.
- Open mic caught Xi, Putin discussing immortality
- Marcos willing to submit to a lifestyle check
- Putin vows not to back down in Ukraine
- 'Large shark' kills man off Sydney beach
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Bishops demand broad probe into flood project corruption
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Israel ups pressure on Gaza City
- Pope Leo: We must listen first before speaking
- Gloria Arroyo files bill to empower Office of the Vice President
