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://052298.com
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.
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.
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- No winner in lotto draws for Aug 28
- ‘God’s Influencer’ to become first millennial saint
- Customs preparing report on Discayas’ 28 luxury cars
- Marcos confers diplomatic merit award on two ambassadors
- Trump rebrands Department of Defense as 'Department of War'
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Need a pee? Japan has QR code for that
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
