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.
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.”, This news data comes from:http://www.052298.com
”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 Discaya admits owning 28 luxury cars
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Tax bureau hunts down contractors over questionable flood control deals
- SEARCH WARRANT
- Nartatez relieves Fajardo as PNP spokesman
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- President Marcos launches HD Hyundai Shipyard in Subic
- 9 dead in Ecuador after bus plunges into ravine
- Marcos signs mining tax regime law
- Inoue says taunts 'missed the target' ahead of world title clash
