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://db.yamato-syokunin.com
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.
Go files housing development bill
- Laws signed on holidays, court branches
- Bonoan resigned due to command responsibility — Marcos
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- 9 dead in Ecuador after bus plunges into ravine
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Indonesia leader orders investigation into driver's protest death
- Boy killed, mother injured in Pasig fire
- Appointments panel holds first session
