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
Go said the measure aims to meet the country’s growing social housing demands, particularly among underprivileged and homeless citizens., This news data comes from:http://oitk-pvr-ynm-mjg.052298.com
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.
- Thai court to rule on PM's fate after Hun Sen call leak
- Need to pee? Japan has QR code for that
- Govt monitoring Chinese ‘sleeper agents’ in PH
- PNP chief supports lowering age of discernment
- ChatGPT to get parental controls after teen's death
- MMDA prepares for PH hosting of FIVB
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- IBP forms committee on good governance to probe corruption
- Sen. Pangilinan Advocates for Credit-Worthy Farmers to Boost Agriculture Sector
- PH has chance of getting UNSC seat - Manalo
