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., This news data comes from:http://gangzhifhm.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.”
”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
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- India to probe giant zoo run by son of Asia's richest person
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Tokyo logs record 10 days of 35 C or higher
- Eight towns in Cotabato cancel classes on Monday
- Thailand ruling party moves to dissolve parliament
- President Marcos launches HD Hyundai Shipyard in Subic
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- More funding sought for sports commission
