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://ekhmqcfu.erlvyiwan.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.”
Go files housing development bill
”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.
- Philippines to work more closely with US amid regional challenges
- Sotto takes oath as Senate president
- No winner in Grand, Megalotto draws for Aug 27
- Israel ups pressure on Gaza City
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Thai court to rule on PM's fate after Hun Sen call leak
