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://er.yamato-syokunin.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.
Go files housing development bill
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.
- 100K Pakistanis flee amid flood threat
- Wildfires producing 'witches' brew' of air pollution – UN
- 9 dead in Ecuador after bus plunges into ravine
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Marcos willing to submit to a lifestyle check
- Marcos names Dizon as DPWH secretary
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Thailand ruling party moves to dissolve parliament
