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://oii-odwl-abb-wbaq.705-888.com
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.
- Alice Guo faces new cases over POGO land
- ‘Large shark’ kills man off Sydney beach
- Konektadong Pinoy Bill has lapsed into law — Palace
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- DILG denies allegations that PNP chief fired over firearms deal
- AboitizPower pushes growth with clean, renewable energy
- Bishops demand broad probe into flood project corruption
- Marcos confers diplomatic merit award on two ambassadors
- Tokyo logs record 10 days of 35 C or higher
- Pope declares 'God's influencer' first millennial saint
