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://hmtf-ufuc-krjc-te.yamato-syokunin.com
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.
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Australia's mushroom murderer faces victims' family in court
- Japan accelerates missile deployment amid rising regional tensions
- Government work, classes on Tuesday suspended due to bad weather
- China is showing off its weaponry in a tightly controlled military parade
- Putin vows not to back down in Ukraine
- EU massive fine against Google draws Trump’s ire
- Israeli protesters call for hostage deal ahead of cabinet meeting
- 'I have no resentment,' says Torre after dismissal as PNP chief
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
