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., This news data comes from:http://gh.redcanaco.com
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.
- Major social media sites back online in Nepal after deadly protests
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Australia halts logging for koala haven on eastern coast
- Thai opposition's kingmaking summit fails to back new PM
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Trump says he wants to meet North Korea's Kim again
- China is showing off its weaponry in a tightly controlled military parade
- US Spirit Airlines files for bankruptcy again
- Bishops demand broad probe into flood project corruption
- May 12 poll results accurate, credible - OCTA Research
