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://www.ycyzqzxyh.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.
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- AKG chief denies using ‘kidnap’ car for personal purposes
- NHA gives cash aid to families affected by calamity in Manila
- Nartatez relieves Fajardo as PNP spokesman
- Pasig City continues barangay aid for efficiency, ends patronage politics
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Hope dwindles for survivors days after deadly Afghan quake
- Inflation up 1.5% in August
- North Korean leader inspects new missile factory ahead of visit to China
