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://www.gyglfs.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.”
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.
- 1 in 4 people lack access to safe drinking water — UN
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- House bill seeks to regulate AI use
- Go files housing development bill
- Mandela grandson says he will join Gaza aid boat
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Social pension eyed for indigent seniors
- 2 Marikina policemen accused of molestation
- Gasoline, diesel price hikes seen next week
- Israel city honors Quezon’s wartime rescue of Jews
