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., This news data comes from:http://jyxingfa.com
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.
- EU massive fine against Google draws Trump’s ire
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Dizon to order DPWH officials to submit courtesy resignation
- Marcos soon to create commission to probe flood control projects
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Israel military says controls 40 percent of Gaza City
- Marcos suspends importation of regular, well-milled rice for 60 days
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- DSWD allocates P6.2B for livelihood program
- Australia expels Iran ambassador over antisemitic attacks
