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://srj-eti-vvu-nkgh.yamato-syokunin.com
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.
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Argentina hunts Nazi-looted painting revealed in property ad
- LTO told to summon 2 DPWH engineers with fake driver’s license
- Portugal mourns after Lisbon streetcar accident kills 15
- Marcos soon to create commission to probe flood control projects
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- No winner in lotto draws for Aug 30
- PH has chance of getting UNSC seat - Manalo
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Estrada, Villanueva tagged in House flood control mess, says 'SOP was 30%'
