SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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., This news data comes from:http://qg-iqa-ga-fdcw.xs888999.com
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
- Wildfire tears through California gold rush town
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Bonoan resigned due to command responsibility — Marcos
- DSWD allocates P6.2B for livelihood program
- China displays its weaponry in a tightly controlled military parade
- Mexican senators come to blows after heated debate
- Navotas inks deal for school feeding project
- No winner in lotto draws for Aug 28
- Xi meets Modi as China and India seek to rebuild ties
- Marcos willing to submit to a lifestyle check
