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.
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://agmen.redcanaco.com
- Gasoline, diesel price hikes seen next week
- 95 IMAGES OF MARY
- Iran says open to US nuclear talks, rejects missile curbs
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Firefighters arrested by US immigration officials
- Follow the trucks: Why investors are looking south of Metro Manila
- Eala writes another historic chapter in Philippine tennis
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Trump: Many Americans ‘like a dictator’
- Japan PM Ishiba bounces back in polls after election debacle
