SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.”, This news data comes from:http://hv-vfe-jhp-lvt.yamato-syokunin.com
Go files housing development bill
”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.
- Argentina hunts Nazi-looted painting revealed in property ad
- CBCP president urges Israel to stop military operations in Gaza
- Kris Aquino is alive, says friend amid reports of death
- Nartatez vows to be fair in making reassignments
- Private groups back DHSUD chief's anti-corruption policy
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Social pension eyed for indigent seniors
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
