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.”, This news data comes from:http://luvtmouf.gyglfs.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.
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Putin meets Kim, praises North Korean troops in Russia
- Pacifist Japan struggles to boost troops as China anxiety grows
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Gaza at 'breaking point,' says UN food agency chief after visit
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- New law lets foreigner investors lease land for 99 years
- 'Trump Whisperer' ex-minister joins Japan PM race
