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.
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.”, This news data comes from:http://iym.jyxingfa.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.
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Manila mayor warns against mobs, orders police to maintain peace and order
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Gasoline, diesel prices to increase by P1 next week
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Putin vows not to back down in Ukraine
- Epstein victims compiling list of sexual abusers
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
