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://ycyzqzxyh.com
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.
Go files housing development bill
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- President Marcos to attend 80th UN General Assembly in New York
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Cayetano elected Senate minority leader; initial reorganization in committee chairmanships
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Go Negosyo, CFO push migrant empowerment
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
