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://kj-hct-efnn-jmu.jyxingfa.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.
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.
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Classes suspended in 10 Metro Manila cities due to rains
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- US appeals court finds Trump's global tariffs illegal
- PNP chief Torre relieved from post — Palace
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- DICT grants amnesty to unregistered delivery firms
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- ALPAS Consultancy bags five awards in Philippine Quill debut
