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.
Go files housing development bill, This news data comes from:http://dua-li-cnih-jtc.yamato-syokunin.com
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
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.
- Tokyo logs record 10 days of 35 C or higher
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Gomez-Estoesta named court administrator by Supreme Court
- Cebu Pacific to launch direct flights between Cebu and Palawan
- ‘God’s Influencer’ to become first millennial saint
- CFO office moves from Quezon City to Pasay
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Marcos names Dizon as DPWH secretary
- Firefighters arrested by US immigration officials
