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://yp-yyrw-fr-hcy.771bg.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.
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
- PH to see ‘blood moon’ Sept. 7-8
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- US warship heading toward Caribbean Sea
- Australia expels Iran ambassador over antisemitic attacks
- Philippines to launch shame campaign vs traffic violators
- Denmark summons US envoy over 'attempts to influence' Greenland
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- DILG suspends classes, gov’t work in 17 areas
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
