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.
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, This news data comes from:http://www.aichuwei.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.
- PH Navy spots 20 Chinese ships near BRP Sierra Madre
- Labubu fans flock to stores after launch of mini dolls
- Taiwan, China locked in historical word war
- Indonesia, US and allies launch joint military drills
- Catholic, Greek Orthodox clergy to stay in Gaza City to help weakest
- Israel expects 1 million Gazans to flee new offensive
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Discayas must return money before seeking immunity – Remulla
- 500 Internal Server Error
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
