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., This news data comes from:http://www.aichuwei.com
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.
Go files housing development bill
- Israeli defense minister warns of Gaza City's destruction unless Hamas yields to his country's terms
- 2028 polls overseas voter registration opens in Dec
- Gloria Arroyo files bill to empower Office of the Vice President
- Marcos to create independent commission to investigate flood control anomalies
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Japan govt seeks to triple spending on drones
- Go seeks more support for Filipino athletes
- Customs preparing report on Discayas’ 28 luxury cars
- Summer brings overtourism fears for 'Bavarian Caribbean'
