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
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.”, This news data comes from:http://cc-tx-fu-dk.yamato-syokunin.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.
- 'No way' US troops can invade Venezuela, says Maduro
- PH Construction Board asked to address 'accreditation for sale' scandal
- Mexican boxer Chavez Jr. released from prison pending trial
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Marcos names acting Ombudsman
- AKG chief denies using ‘kidnap’ car for personal purposes
- DFA: No US extradition request for Quiboloy
- 500 Internal Server Error
- Police brutality fuels soaring tensions in Indonesia
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
