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.”
Go files housing development bill, This news data comes from:http://ycyzqzxyh.com
”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.
- Nepal to block unregistered social media platforms – govt
- China to bolster non-Western alliances at summit, parade
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- DSWD allocates P6.2B for livelihood program
- NHA gives cash aid to families affected by calamity in Manila
- Zelenskyy meets European leaders on Ukraine security guarantees
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Taylor Swift, Travis Kelce engaged
- Bolsonaro verdict looms as Brazil coup trial closes
