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.”
Go files housing development bill, This news data comes from:http://dllogfi.jyxingfa.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.
- India will not 'bow down,' trade minister says after US tariffs
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Macron's decision to recognize Palestinian state angers Israel and the US
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Japan govt seeks to triple spending on drones
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Australia to tackle deepfake nudes, online stalking
- Comelec defers reconstitution of BARMM parliamentary districts
