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., This news data comes from:http://bml-hsv-won-fj.jyxingfa.com
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.
- China 'unstoppable', says Xi with Kim, Putin at his side
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- 500 Internal Server Error
- Marcos to attend UN meet in New York in Sept- Palace
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Marcos soon to create commission to probe flood control projects
- International media protest over journalist deaths in Gaza
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Kris Aquino is alive, says friend amid reports of death
