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.771bg.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.
Go files housing development bill
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- A summit and parade in China may signal a geopolitical shift
- Kris Aquino is alive, says friend amid reports of death
- ChatGPT to get parental controls after teen's death
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- NATO members to reach 2% defense spending goal this year
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Made in China? The remarkable tale of Venice's iconic winged lion
- Australia government condemns anti-immigration rally in Sydney
