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://wnelqp.gyglfs.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.
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Prompt release of educational aids sought
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Thai woman jailed for 43 years for lese majeste freed
- PNP chief Torre relieved from post — Palace
- Argentine police recover Nazi-looted painting spotted in property ad
- Private groups back DHSUD chief's anti-corruption policy
- Bonoan resigned due to command responsibility — Marcos
- Philippines to work more closely with US amid regional challenges
- PH Army showcases disaster response capabilities before Thai defense officials
