SEN. Bong Go filed Senate Bill 685 on July 16, which seeks the creation of a National Housing Development, Production and Financing Program.
Go files housing development bill
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.”, This news data comes from:http://wkoimmes.yamato-syokunin.com
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.
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Washington makes military aid overtures to Sahel juntas
- SSS rolls out historic pension reform program
- Labubu fans flock to stores after launch of mini dolls
- Govt monitoring Chinese ‘sleeper agents’ in PH
- ₱1.7M shabu seized in Taguig buy-bust
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Japan govt seeks to triple spending on drones
- SpaceX cancels Starship megarocket launch in latest setback
