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://705-888.com
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.
- PNP chief supports lowering age of discernment
- Afghan quake death toll surges to over 2,200
- Thai woman jailed for 43 years for lese majeste freed
- SpaceX cancels Starship megarocket launch
- Laws signed on holidays, court branches
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- 500 Internal Server Error
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Taiwan: China illegally deploying oil rigs in our waters
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
