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.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.
- Trump moves to cut more foreign aid, risking shutdown
- Marcos signs law giving 99-year land lease to foreign investors
- Marcos embarks on three-day state visit to Cambodia
- Gaps in healthcare services remain - study
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- House resumes budget briefings
- Macron's decision to recognize Palestinian state angers Israel and the US
- Peace efforts in limbo as Kyiv mourns 23 dead
- 20 people missing after deadly Indonesia protests
