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.”
Go files housing development bill, This news data comes from:http://vjhmcry.xs888999.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.
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- CFO moves office from QC to Pasay
- Mexican senators come to blows after heated debate
- Marcos signs laws declaring holidays across PH
- Nepali court: Hindu holy men's nudity not obscene
- Sara Discaya admits owning 28 luxury cars
- UN force in Lebanon slams Israeli drone attack on peacekeepers
