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.
Go files housing development bill
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://ycyzqzxyh.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.
- Makati earns high rating in anti-trafficking and violence assessment
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
- Alex Eala makes history With comeback victory at US Open
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- PH, Australia commend ‘impressive’ joint sea drills
- 500 Internal Server Error
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- SSS pension reform program starts in September
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
