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://ycyzqzxyh.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.”
”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.
- Pacifist Japan struggles to boost troops as China anxiety grows
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Zelenskyy meets European leaders on Ukraine security guarantees
- Navotas inks deal for school feeding project
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Sen. Bong Go files bill for better health worker protection, benefits
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
