SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
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.
Go files housing development bill, This news data comes from:http://www.xs888999.com
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
”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.
- Taylor Swift, Travis Kelce engaged
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- DFA: No US extradition request for Quiboloy
- Made in China? The remarkable tale of Venice's iconic winged lion
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- LPA affects Metro Manila, Mindanao, Visayas
- SEARCH WARRANT
- Manila marks National Heroes Day with job fair
- DMW: 19 distressed OFWs return home from Jeddah
