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, This news data comes from:http://hyj-lk-em-iqsc.jyxingfa.com
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.
- Passenger with fake Overseas Employment Certificate barred from leaving
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Marcos names acting Ombudsman
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- No winner in Ultra, Megalotto draws for Sept 5
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Preliminary report on Lisbon funicular accident expected
- Social pension eyed for indigent seniors
- Konektadong Pinoy Bill has lapsed into law — Palace
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
