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, This news data comes from:http://gangzhifhm.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.
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.
Go files housing development bill
- Macron's decision to recognize Palestinian state angers Israel and the US
- Thailand's Parliament to vote Friday for a new prime minister
- Gaps in healthcare services remain - study
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Drug war whistleblower Royina Garma returns to PH after US detention
- 1 of 2 suspects in Pasay robbery, rape arrested
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- 2028 polls overseas voter registration opens in Dec
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
