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://yamato-syokunin.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.
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Gaza at 'breaking point,' says UN food agency chief after visit
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- PH Army showcases disaster response capabilities before Thai defense officials
- Gaps in healthcare services remain - study
- P270M rock shed useless – Marcos
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
