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
”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://xs888999.com
- Argentine police recover Nazi-looted painting spotted in property ad
- Macron's decision to recognize Palestinian state angers Israel and the US
- ChatGPT to get parental controls after teen's death
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Lacson to govt: Protect education budget
- Islamic State claims deadly attack on Pakistan rally
- Government work, classes on Tuesday suspended due to bad weather
