SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://hjt-vsqv-axqc-uq.705-888.com
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.”
”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.
Go files housing development bill
- Discaya says her family owns nine companies
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Go seeks more support for Filipino athletes
- Trump hails Department of War rebrand as 'message of victory'
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- No winner in Ultra, Megalotto draws for Aug 29
- India will not 'bow down,' trade minister says after US tariffs
- Palace slams Discaya couple's denial in Film Heritage Building debacle
