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.yamato-syokunin.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.”
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.
Go files housing development bill
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Israeli strikes in Yemen's capital kill six, Houthis say
- Task force cites new threats to media workers
- One in four people lack access to safe drinking water – UN
- DPWH exec fired, 2 others face dismissal over flood control mess
- Trump withdraws Kamala Harris's Secret Service protection
- PH Army showcases disaster response capabilities before Thai defense officials
- Makati earns high rating in anti-trafficking and violence assessment
- Taylor Swift, Travis Kelce engaged
- Comelec defers reconstitution of BARMM parliamentary districts
