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.
- Gloria Arroyo files bill to empower Office of the Vice President
- DOJ indicts Abra Mining for fraudulent trading
- House bill seeks to regulate AI use
- DBP launches P50M program for education
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- House resolution filed to investigate 'funders' of anomalous projects
- Marcos orders lifestyle check on all govt officials amid flood projects probe
- Thai opposition holds kingmaking summit deciding new PM
- DSWD program reduced hunger
- 'Large shark' kills man off Sydney beach
