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
”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., This news data comes from:http://whfgfff.aichuwei.com
- Philippines to work more closely with US amid regional challenges
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Japan PM Ishiba bounces back in polls after election debacle
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Philippines presses call for ceasefire in Gaza
- China's Communist rulers push party role before World War II anniversary
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Customs preparing report on Discayas’ 28 luxury cars
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- 2 Marikina policemen accused of molestation
