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., This news data comes from:http://brm-oorm-jwqf-igh.052298.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.”
Go files housing development bill
”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.
- Mexican boxer Chavez Jr. released from prison pending trial
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- 'New' position being offered to Torre — Palace
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- Quezon City hails directive for national projects to get local permits
- Workers urge Marcos to stop corruption by banning political dynasties
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- PH, Australia commend ‘impressive’ joint sea drills
- Marcos embarks on three-day state visit to Cambodia
