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://052298.com
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.
Go files housing development bill
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.
- 'God's Influencer' to become first millennial saint
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Philippines to launch shame campaign vs traffic violators
- Makati earns high rating in anti-trafficking and violence assessment
- Marcos signs laws declaring holidays across PH
- House holds budget review with 21 civil society organizations
- Unnamed skeletons? US museum at center of ethical debate
- PH economic losses hit 100B from corruption in flood control projects
- Modi, Ishiba agree to boost economic ties
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
