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.
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
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.
- Marcos to youth: Help in nation-building
- Bonoan resigned due to command responsibility — Marcos
- Marcos opens WorldSkills Asean competition
- Xi and Putin round on West at regional summit in China
- Marcos expresses support for ‘beleaguered’ Cabinet members
- DOTr denies ordering shutdown of online selling platforms
- New mining law to balance profit, ecology
- Anti-fake news bill filed anew in House
- Comelec to resume BARMM polls ballot printing Thursday
- US appeals court finds Trump's global tariffs illegal
