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.”, This news data comes from:http://nij-oup-ptip-bds.erlvyiwan.com
”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.
- 1.2K pass Electrical Engineers exam
- MMDA prepares for PH hosting of FIVB
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- India to probe giant zoo run by son of Asia's richest person
- LPA may still develop into short-lived tropical cyclone
- Task force cites new threats to media workers
- DPWH to revisit budget, to complete revisions within 2 weeks
- Modi, Ishiba agree to boost economic ties
- Sen. Bong Go files bill for better health worker protection, benefits
- OVP ready to submit to lifestyle check if ordered, no word from Sara
