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.
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.”, This news data comes from:http://yq-ltqj-rrr-bj.aichuwei.com
”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.
- Marcos signs laws creating more court branches
- China to bolster non-Western alliances at summit, parade
- AFP: It would take more than a tugboat to tow BRP Sierra Madre from Ayungin Shoal
- Marcos embarks on three-day state visit to Cambodia
- Sotto files bill to amend party-list system
- Lookout bulletins out vs Atong Ang, Barretto
- Thai opposition's kingmaking summit fails to back new PM
- 'Mockery of science': US experts blast Trump climate report
- Customs recovers 10 more Discaya luxury cars
- Former president Duterte's health stable despite high blood sugar, says VP Sara
