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://052298.com
Go files housing development bill
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
- Fire breaks out in Manila residential area
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Israeli protesters call for hostage deal ahead of cabinet meeting
- President Marcos commits to boosting PH digital infrastructure
- Dizon to order DPWH officials to submit courtesy resignation
- PH has chance of getting UNSC seat - Manalo
- ERC amends net-metering rules to expand renewable energy options
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Tokyo protests to Beijing over gas field in East China Sea
