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://705-888.com
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.
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.
- Makati earns high rating in anti-trafficking and violence assessment
- Isko files raps over demolition of sports complex
- Israel army urges Gaza City residents to leave
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Mass housing developers laud Pag-IBIG Fund
- Israel city honors Quezon’s wartime rescue of Jews
- Wife of Australian man wanted in police killings urges him to surrender
- Thousands protest in Indonesia as military deployed in capital
- Israeli forces seize nearly 0,000 in West Bank raid
- Pagasa monitors LPA off Cavite, may still become tropical depression
