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.”
”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., This news data comes from:http://www.ycyzqzxyh.com
Go files housing development bill
- 500 Internal Server Error
- Pasig fire kills child, injures mother as she tries to save him
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Discaya companies' licenses revoked for bid-rigging
- 25 countries suspend postal services to US over tariffs – UN
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Trump move to cut more foreign aid risking shutdown
- Russian drone, missile attack kills 14, injured 48 in Kyiv
