SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://br.erlvyiwan.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.”
”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.
- Sarah Discaya grilled by Senate over alleged DPWH links
- Tokyo logs record 10 days of 35 C or higher
- China's Communist rulers push party role before World War II anniversary
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Gloria Arroyo files bill to empower Office of the Vice President
- Trump move to cut more foreign aid risking shutdown
- Marcos opens WorldSkills Asean competition
- Thousands protest in Nepal over social media ban, corruption
- Discaya says her family owns nine companies
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
