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://insoc.ycyzqzxyh.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.
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.
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- No winner in Ultra, Megalotto draws for Aug 29
- PH, Australia commend ‘impressive’ joint sea drills
- New law lets foreigner investors lease land for 99 years
- Vico Sotto's viral post sparks ethics debate, elicits response from journalists
- Kneecap to play Paris concert in defiance of objections
- Israel tells residents to leave Gaza City ahead of offensive
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
