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.”, This news data comes from:http://yfkb-vrc-ugvm-mtd.aichuwei.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.
- House bill seeks to regulate AI use
- Tokyo protests to Beijing over gas field in East China Sea
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- 1.2K pass Electrical Engineers exam
- Pasig police prepare charges vs protesters
- Australia to tackle deepfake nudes, online stalking
- 'Strangest' dinosaur covered in spiked armory – scientists
- Go files housing development bill
- Comelec probes 15 govt contractors over 2022 election donations
- The rot goes deep: Marcos decries decades-old corruption
