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.”
”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://udvrm.yamato-syokunin.com
Go files housing development bill
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Indonesia's delayed new capital risks 'white elephant' status
- No winner in lotto draws for Aug 28
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Thailand acting PM moves to dissolve parliament — party
- ChatGPT to get parental controls after teen's death
- Former PNP chief Torre III offered new government post
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
