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://705-888.com
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
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.
- Customs preparing report on Discayas’ 28 luxury cars
- Epstein victims compiling list of sexual abusers
- A summit and parade in China may signal a geopolitical shift
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Dizon to order DPWH officials to submit courtesy resignation
- Japanese climber, 102, sets Mount Fuji record
- Task force cites new threats to media workers
- 4 of 15 contractors on Marcos list have clean records – DPWH
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Roxas matriarch Judy Araneta-Roxas, 91
