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.
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.”, This news data comes from:http://ae-dntu-kl-kk.gangzhifhm.com
”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
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- ‘Large shark’ kills man off Sydney beach
- ChatGPT to get parental controls after teen's death
- 'Lannie' exits PH — Pagasa
- Eala ousts Day, enters Guadalajara Open final
- Four children killed by parents in Dominican Republic — police
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- SC clarifies rules on land ownership
