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.
Go files housing development bill
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://cfs-sao-ao-qd.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.
- 1.2K pass Electrical Engineers exam
- SSS rolls out historic pension reform program
- Trump tells Europe to put economic pressure on China over Ukraine
- Comelec upholds cancelation of Duterte Youth registration
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Philippines to work more closely with US amid regional challenges
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Israel flattens high-rise as it tells Gaza City residents to flee
- Israel ups pressure on Gaza City
- Labubu fans flock to stores after launch of mini dolls
