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
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., This news data comes from:http://dcqpcs.052298.com
- China 'unstoppable', says Xi with Kim, Putin at his side
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Roxas matriarch Judy Araneta-Roxas, 91
- Eala ousts Day, enters Guadalajara Open final
- House bill seeks to regulate AI use
- Thai Court: PM Shinawatra violated ethics rules
- Former Bulacan district engineer admits going to casinos
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Protesters storm Discaya compound for second straight day
- Napolcom confirms Lt. Gen. Nartatez as acting PNP chief
