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://www.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.”
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.
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- NACC renews appeal: Adopt neglected kids
- Trump moves to cut more foreign aid, risking shutdown
- AboitizPower pushes growth with clean, renewable energy
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Malabon City honors partners
- Marcos confers diplomatic merit award on two ambassadors
