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., This news data comes from:http://rmq.erlvyiwan.com
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.
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.
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Tokyo logs record 10 days of 35 C or higher
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- French parliament set to eject PM in blow to Macron
- 'Strangest' dinosaur covered in spiked armory – scientists
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- ‘New NBI chief must be career official’
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Philippines nears universal healthcare, 80% goal achieved -- Marcos
