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.
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, This news data comes from:http://052298.com
”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.
- LTO summons driver who berated enforcer
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- PH, Australia commend ‘impressive’ joint sea drills
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Bonoan resigned due to command responsibility — Marcos
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- US strike marks shift to military action against drug cartels
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
