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.
Go files housing development bill
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://yniie.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.
- Need to pee? Japan has QR code for that
- CBCP president urges Israel to stop military operations in Gaza
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Putin meets Kim, praises North Korean troops in Russia
- Indonesia leader orders investigation into driver's protest death
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- India will not 'bow down,' trade minister says after US tariffs
