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://705-888.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.
- Need to pee? Japan has QR code for that
- GoTyme gives customers 20 free InstaPay transfers per month
- North Korea test-fires two 'new' air defense missiles
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- House bill seeks to regulate AI use
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- New Zealand to allow some wealthy foreign investors onto property market
- Go seeks more support for Filipino athletes
- The rot goes deep: Marcos decries decades-old corruption
- Marcos lauds Alex Eala’s win in Guadalajara
