SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program., This news data comes from:http://www.gangzhifhm.com
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.”
”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
- Pagasa sees cyclone-free week across PH
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Comelec probes 15 contractors for illegal campaign donations
- Go Negosyo, CFO push migrant empowerment
- Trump hails Department of War rebrand as 'message of victory'
- Labubu fans flock to stores after launch of mini dolls
- North Korean leader inspects new missile factory ahead of visit to China
- Putin lands in Tianjin for summit hosted by China
- UK police arrest hundreds in latest Palestine Action demo
- Red Cross head says mass evacuation of Gaza City 'impossible'
