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.
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., This news data comes from:http://gyglfs.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.
- Former Bulacan district engineer admits going to casinos
- Seoul says over 300 South Koreans held in US battery plant site raid
- Oil firms to raise fuel prices this week
- A tale of two cities: San Mateo rejects Manila's trash; Rizal opens landfill to Malabon
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Mass housing developers laud Pag-IBIG Fund
- CFO office moves from Quezon City to Pasay
- Xi meets Modi as China and India seek to rebuild ties
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- PNP chief leads fun run
