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.yamato-syokunin.com
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
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.
- DOJ indicts Abra Mining for fraudulent trading
- Konektadong Pinoy Bill has lapsed into law — Palace
- Pakistanis no reprieve from floods yet
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Thai tycoon takes office as PM after royal endorsement
- La Niña may return but temperatures will remain high, UN says
- 500 Internal Server Error
- Isko files raps over demolition of sports complex
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- Australia to tackle deepfake nudes, online stalking
