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., This news data comes from:http://www.ycyzqzxyh.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.
- The rot goes deep: Marcos decries decades-old corruption
- CBCP president urges Israel to stop military operations in Gaza
- Thai Court: PM Shinawatra violated ethics rules
- Thai opposition's kingmaking summit fails to back new PM
- Discaya names lawmakers in ‘extortion’
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- US appeals court finds Trump's global tariffs illegal
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Indonesia turns down ear-splitting 'haram' street parties
