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., This news data comes from:http://techt.gangzhifhm.com
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.”
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.
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- Prompt release of educational aids sought
- Sen. Go files bills to push health, social, and labor reforms
- Gloria Arroyo files bill to empower Office of the Vice President
- Quezon City launches 'Healthy QC' ordinance to combat childhood obesity
- PH eyes global partners in biggest railway project
- US approves .5M in assistance to Nigeria to help address hunger
- Taylor Swift, Travis Kelce engaged
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
