SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill, This news data comes from:http://gangzhifhm.com
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.
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.
- Peace efforts in limbo as Kyiv mourns 23 dead
- Makati earns high rating in anti-trafficking and violence assessment
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- IBP forms committee on good governance to probe corruption
- PH Defense chief slammed for 'bad mouthing' China
- ALPAS Consultancy bags five awards in Philippine Quill debut
- Tokyo logs record 10 days of 35 C or higher
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Inflation up 1.5% in August
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
