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://lmc-mwb-nvy-vt.gangzhifhm.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.”
Go files housing development bill
”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.
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- No winner in lotto draws for Aug 28
- Head of main US health agency abruptly dismissed
- Israel tells residents to leave Gaza City ahead of offensive
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Wildfires producing 'witches' brew' of air pollution – UN
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- North Korea's Kim in China ahead of massive military parade
- Xi says China 'unstoppable' in parade opening speech
