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.
Under the bill, the Department of Human Settlements and Urban Development, supported by shelter agencies, would lead the program’s implementation.
Go files housing development bill
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://www.gangzhifhm.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.
- PNP chief leads fun run
- Trump move to cut more foreign aid risking shutdown
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Marcos signs law giving 99-year land lease to foreign investors
- PNP chief supports lowering age of discernment
- Lookout bulletins out vs Atong Ang, Barretto
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Police officers face more charges in missing cockfight enthusiasts case
- Labubu fans flock to stores after launch of mini dolls
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
