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://asob-wjw-oq-qrnb.gyglfs.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.
- Trump wants to meet Norea Korea's Kim again
- India to probe giant zoo run by son of Asia's richest person
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
- 40% of Filipinos are now obese, says Health expert
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Comelec defers reconstitution of BARMM parliamentary districts
- DBP launches P50M program for education
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Manila marks National Heroes Day with job fair
