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://052298.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.
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.
Go files housing development bill
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Eala writes another historic chapter in Philippine tennis
- Manila mayor warns against mobs, orders police to maintain peace and order
- Taylor Swift, Travis Kelce engaged
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- Tokyo logs record 10 days of 35 C or higher
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Israeli protesters demand hostage deal as cabinet meets
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
