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.
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://pbamkiun.redcanaco.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.
- Magnitude 5.3 earthquake rocks Dinagat Islands
- Israel tells residents to leave Gaza City ahead of offensive
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Thai cannabis-championing tycoon takes office as PM
- Trump moves to limit US stays of students, journalists
- Maduro calls for dialogue hours after Trump’s threat
- DOTr denies ordering shutdown of online selling platforms
- Indonesia's delayed new capital risks 'white elephant' status
- AI, thinner iPhones likely stars of Apple 'Awe Dropping' event
